ING Groep NV Trims Holdings in Coterra Energy Inc. (NYSE:CTRA)

ING Groep NV decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 69.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,524 shares of the company’s stock after selling 553,775 shares during the period. ING Groep NV’s holdings in Coterra Energy were worth $5,880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares during the period. Marshall Wace LLP lifted its position in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after buying an additional 1,127,399 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Coterra Energy during the 1st quarter valued at $28,967,000. American Century Companies Inc. grew its position in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the period. Finally, Earnest Partners LLC increased its stake in shares of Coterra Energy by 37.5% in the 1st quarter. Earnest Partners LLC now owns 1,918,569 shares of the company’s stock worth $53,490,000 after acquiring an additional 523,480 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

CTRA opened at $25.55 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The firm has a market capitalization of $18.82 billion, a PE ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $23.95 and its 200 day moving average price is $25.48.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted $0.47 EPS. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CTRA shares. Piper Sandler lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group raised their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. Scotiabank dropped their target price 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. Wells Fargo & Company raised their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Mizuho boosted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

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.