Central Pacific Bank Trust Division Invests $44,000 in Coterra Energy Inc. (NYSE:CTRA)

Central Pacific Bank Trust Division bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,570 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CTRA. Daiwa Securities Group Inc. grew its stake in Coterra Energy by 8.1% in the first quarter. Daiwa Securities Group Inc. now owns 74,332 shares of the company’s stock worth $2,072,000 after purchasing an additional 5,564 shares in the last quarter. Quent Capital LLC boosted its stake in Coterra Energy by 8.1% in the first quarter. Quent Capital LLC now owns 5,924 shares of the company’s stock valued at $165,000 after acquiring an additional 446 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Coterra Energy by 16.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,995 shares of the company’s stock valued at $697,000 after buying an additional 3,590 shares during the last quarter. Pullen Investment Management LLC bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $260,000. Finally, Private Advisor Group LLC raised its holdings in shares of Coterra Energy by 15.4% during the first quarter. Private Advisor Group LLC now owns 142,289 shares of the company’s stock valued at $3,967,000 after buying an additional 18,967 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 1.4 %

Coterra Energy stock opened at $26.99 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The company has a market capitalization of $20.09 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.23 and a beta of 0.24. Coterra Energy Inc. has a one year low of $23.73 and a one year high of $29.89. The company’s fifty day moving average price is $27.43 and its two-hundred day moving average price is $26.65.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. On average, analysts forecast that Coterra Energy Inc. will post 2 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.11%. The ex-dividend date was Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

Analyst Ratings Changes

Several brokerages recently commented on CTRA. Stifel Nicolaus dropped their target price on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Scotiabank upped their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Piper Sandler boosted their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Finally, Barclays initiated coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.93.

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.