OLD National Bancorp IN Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

OLD National Bancorp IN boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 331,599 shares of the company’s stock after buying an additional 3,970 shares during the quarter. OLD National Bancorp IN’s holdings in Coterra Energy were worth $7,942,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Coterra Energy during the first quarter worth about $656,000. Quadrature Capital Ltd raised its stake in shares of Coterra Energy by 112.2% in the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares during the period. CreativeOne Wealth LLC raised its stake in shares of Coterra Energy by 130.3% in the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after acquiring an additional 32,173 shares during the period. Raymond James & Associates raised its stake in shares of Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after acquiring an additional 51,249 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 1.2 %

NYSE CTRA opened at $23.78 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.79. The stock has a market capitalization of $17.70 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. The firm has a 50 day moving average of $23.87 and a two-hundred day moving average of $25.96.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $0.38 EPS. The company’s revenue was up 7.3% on a year-over-year basis. As a group, research analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CTRA shares. Scotiabank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley reduced their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Truist Financial reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Barclays dropped their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.06.

Coterra Energy Company 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.