OLD National Bancorp IN Has $8.74 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

OLD National Bancorp IN grew its position in Coterra Energy Inc. (NYSE:CTRA) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 327,629 shares of the company’s stock after acquiring an additional 14,709 shares during the quarter. OLD National Bancorp IN’s holdings in Coterra Energy were worth $8,738,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CTRA. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy in the 4th quarter worth approximately $33,000. Headlands Technologies LLC lifted its position in shares of Coterra Energy by 397.7% during the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after buying an additional 1,392 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Coterra Energy in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.5 %

Shares of CTRA traded up $0.11 on Friday, reaching $24.10. 6,221,094 shares of the company’s stock were exchanged, compared to its average volume of 6,470,637. The business has a 50 day moving average price of $26.56 and a two-hundred day moving average price of $26.68. Coterra Energy Inc. has a 12 month low of $23.18 and a 12 month high of $29.89. The stock has a market capitalization of $17.94 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.38 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts anticipate that Coterra Energy Inc. will post 2.02 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Analyst Ratings Changes

CTRA has been the subject of several recent analyst reports. Susquehanna increased their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Mizuho boosted their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Wolfe Research began coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. Morgan Stanley raised their price target on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Finally, Citigroup boosted their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.06.

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.