Raiffeisen Bank International AG Purchases 10,764 Shares of Coterra Energy Inc. $CTRA

Raiffeisen Bank International AG increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 77.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,701 shares of the company’s stock after buying an additional 10,764 shares during the period. Raiffeisen Bank International AG’s holdings in Coterra Energy were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRA. Vanguard Group Inc. grew its position in shares of Coterra Energy by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after acquiring an additional 3,818,700 shares during the period. Wellington Management Group LLP lifted its stake in Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock worth $731,313,000 after purchasing an additional 1,837,614 shares during the period. Geode Capital Management LLC grew its holdings in Coterra Energy by 4.8% during the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock worth $522,936,000 after purchasing an additional 953,824 shares during the period. Finally, Invesco Ltd. increased its position in Coterra Energy by 1.2% during the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock worth $357,919,000 after buying an additional 152,244 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

CTRA opened at $26.18 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The business has a fifty day simple moving average of $24.21 and a 200 day simple moving average of $24.49. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95. The company has a market capitalization of $19.93 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. Research 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 will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.4%. Coterra Energy’s payout ratio is currently 40.55%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Stephens cut their price objective on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Wolfe Research dropped their price target on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Scotiabank cut their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 9th. Susquehanna reduced their price objective on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Finally, Wells Fargo & Company upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Seventeen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.38.

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.