Coterra Energy Inc. $CTRA Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,690 shares of the company’s stock after purchasing an additional 4,401 shares during the quarter. Amalgamated Bank’s holdings in Coterra Energy were worth $3,748,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock valued at $3,577,000 after acquiring an additional 8,726 shares during the last quarter. Truist Financial Corp boosted its holdings in Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after acquiring an additional 2,625,126 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Coterra Energy during the first quarter worth about $233,000. Nordea Investment Management AB lifted its stake in shares of Coterra Energy by 43.2% during the second quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock worth $1,468,000 after purchasing an additional 17,373 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Coterra Energy by 15.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock worth $19,944,000 after purchasing an additional 104,999 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 1.2%

Shares of NYSE CTRA opened at $23.69 on Monday. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95. The firm has a market cap of $18.07 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 0.36 and a beta of 0.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The stock’s 50-day simple moving average is $23.76 and its 200-day simple moving average is $24.43.

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Mizuho reduced their price objective on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Roth Capital reduced their price objective on Coterra Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Finally, Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.30.

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.