Amalgamated Bank Sells 35,637 Shares of Coterra Energy Inc. (NYSE:CTRA)

Amalgamated Bank decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 15.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 199,724 shares of the company’s stock after selling 35,637 shares during the period. Amalgamated Bank’s holdings in Coterra Energy were worth $5,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in shares of Coterra Energy by 154.9% during the 2nd 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 last quarter. Larson Financial Group LLC lifted its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Coterra Energy in the 1st quarter worth approximately $44,000. Harbor Investment Advisory LLC increased its holdings in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Coterra Energy during the 1st quarter valued at $47,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $23.66 on Friday. The company has a 50 day simple moving average of $24.42 and a two-hundred day simple moving average of $26.40. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.16 and a beta of 0.22. 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 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 10.48%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business earned $0.38 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research reports. Susquehanna cut their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Bank of America reiterated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Citigroup upped their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Two 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 MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.59.

About Coterra Energy

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.