US Bancorp DE Raises Position in Coterra Energy Inc. (NYSE:CTRA)

US Bancorp DE lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 30.0% in the third quarter, Holdings Channel.com reports. The firm owned 1,632,233 shares of the company’s stock after buying an additional 376,607 shares during the period. US Bancorp DE’s holdings in Coterra Energy were worth $39,092,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CTRA. Sippican Capital Advisors grew its holdings in Coterra Energy by 1.3% during the 3rd quarter. Sippican Capital Advisors now owns 64,019 shares of the company’s stock valued at $1,533,000 after purchasing an additional 834 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Coterra Energy by 13.1% during the third quarter. Nicholas Hoffman & Company LLC. now owns 34,703 shares of the company’s stock valued at $831,000 after buying an additional 4,021 shares during the period. Gibraltar Capital Management Inc. grew its stake in shares of Coterra Energy by 0.7% during the third quarter. Gibraltar Capital Management Inc. now owns 468,700 shares of the company’s stock valued at $11,225,000 after buying an additional 3,386 shares during the last quarter. abrdn plc raised its holdings in shares of Coterra Energy by 24.7% in the third quarter. abrdn plc now owns 182,960 shares of the company’s stock worth $4,379,000 after buying an additional 36,239 shares during the period. Finally, Inscription Capital LLC lifted its stake in shares of Coterra Energy by 48.2% during the 3rd quarter. Inscription Capital LLC now owns 14,255 shares of the company’s stock worth $341,000 after acquiring an additional 4,633 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CTRA shares. Susquehanna cut their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Wolfe Research assumed coverage on shares of Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective for the company. UBS Group dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Morgan Stanley decreased their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $23.93 on Friday. The company has a market capitalization of $17.69 billion, a PE ratio of 13.83, a P/E/G ratio of 1.41 and a beta of 0.22. The company has a 50-day simple moving average of $23.82 and a two-hundred day simple moving average of $25.74. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

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

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.