Chevy Chase Trust Holdings LLC Acquires 16,242 Shares of Coterra Energy Inc. $CTRA

Chevy Chase Trust Holdings LLC lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 4.2% during the second quarter, HoldingsChannel.com reports. The fund owned 403,149 shares of the company’s stock after purchasing an additional 16,242 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Coterra Energy were worth $10,232,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised 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 raised its holdings in shares of Coterra Energy by 15.3% in the first 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. raised its holdings in shares of Coterra Energy by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company’s stock valued at $731,313,000 after purchasing an additional 1,837,614 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Coterra Energy by 5.7% in the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company’s stock valued at $544,149,000 after purchasing an additional 1,019,995 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Coterra Energy by 1.2% in the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company’s stock valued at $357,919,000 after buying an additional 152,244 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTRA. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Roth Capital reduced their target price on shares of Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Siebert Williams Shank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, JPMorgan Chase & Co. boosted their price target on Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Sixteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Coterra Energy Stock Performance

NYSE:CTRA opened at $22.82 on Monday. The stock’s 50-day moving average is $23.80 and its 200-day moving average is $24.56. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95. The stock has a market cap of $17.41 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The business’s revenue was up 54.6% on a year-over-year basis. Equities research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.9%. Coterra Energy’s dividend payout ratio is presently 42.11%.

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.