M&T Bank Corp Has $7.45 Million Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

M&T Bank Corp grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.1% in the third quarter, Holdings Channel reports. The institutional investor owned 311,092 shares of the company’s stock after acquiring an additional 6,321 shares during the period. M&T Bank Corp’s holdings in Coterra Energy were worth $7,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after buying an additional 128,397 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after buying an additional 195,966 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after buying an additional 285,774 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $23.68 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The stock has a market cap of $17.44 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The stock has a fifty day moving average of $24.95 and a 200-day moving average of $25.08.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.47 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.55%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Citigroup increased their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Wells Fargo & Company lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $32.53.

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.