Argent Trust Co Makes New $507,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Argent Trust Co acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,006 shares of the company’s stock, valued at approximately $507,000.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after buying an additional 399 shares during the period. TCW Group Inc. increased its stake in Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after acquiring an additional 404 shares during the period. Redwood Wealth Management Group LLC raised its position in Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after purchasing an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. raised its position in Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in Coterra Energy by 8.1% during the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after purchasing an additional 445 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Coterra Energy stock opened at $23.57 on Friday. The company has a market cap of $17.54 billion, a PE ratio of 13.62, a PEG ratio of 1.16 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.89. The company’s 50-day moving average is $24.49 and its two-hundred day moving average is $26.42.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Equities analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.56%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley lowered their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday. Bank of America reissued a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Piper Sandler dropped their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.59.

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.