Coterra Energy Inc. $CTRA Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,869 shares of the company’s stock after purchasing an additional 6,371 shares during the quarter. Fifth Third Bancorp’s holdings in Coterra Energy were worth $2,281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Donald L. Hagan LLC lifted its stake in shares of Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company’s stock valued at $1,033,000 after buying an additional 401 shares during the period. Investors Research Corp lifted its stake in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after buying an additional 408 shares during the period. Saxon Interests Inc. lifted its stake in shares of Coterra Energy by 5.1% during the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock valued at $269,000 after buying an additional 451 shares during the period. Tectonic Advisors LLC lifted its stake in shares of Coterra Energy by 3.2% during the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after buying an additional 459 shares during the period. Finally, Procyon Advisors LLC lifted its stake in shares of Coterra Energy by 3.6% during the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company’s stock valued at $389,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Mizuho reduced their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, July 1st. Barclays upped their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Piper Sandler upped their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Coterra Energy in a research note on Friday, July 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.22.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.83 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The company has a market cap of $18.18 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a fifty-two week low of $22.46 and a fifty-two week high of $29.95. The firm’s 50 day moving average is $23.93 and its two-hundred day moving average is $25.12.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. Analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. Coterra Energy’s dividend payout ratio is presently 42.11%.

About Coterra Energy

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.