Cullen Frost Bankers Inc. Sells 1,519 Shares of Coterra Energy Inc. (NYSE:CTRA)

Cullen Frost Bankers Inc. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,535 shares of the company’s stock after selling 1,519 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Coterra Energy were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted its position in Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after acquiring an additional 555 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock worth $26,000 after purchasing an additional 737 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Coterra Energy during the 1st quarter worth approximately $34,000. Investors Research Corp lifted its holdings in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock worth $38,000 after acquiring an additional 408 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in Coterra Energy in the 1st quarter valued at approximately $46,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Down 0.3%

CTRA opened at $24.38 on Friday. The firm has a market capitalization of $18.61 billion, a P/E ratio of 14.17, a PEG ratio of 0.34 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company’s 50-day moving average is $25.30 and its 200 day moving average is $26.43.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.61%. Coterra Energy’s dividend payout ratio is currently 51.16%.

Analyst Ratings Changes

Several brokerages have issued reports on CTRA. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research report on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, June 16th. Pickering Energy Partners cut shares of Coterra Energy from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 20th. Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective (up from $36.00) on shares of Coterra Energy in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.16.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.