Zurcher Kantonalbank Zurich Cantonalbank Buys 718,182 Shares of Coterra Energy Inc. (NYSE:CTRA)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 395.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 899,838 shares of the company’s stock after buying an additional 718,182 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of Coterra Energy worth $21,551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares during the last quarter. Marshall Wace LLP grew its holdings in Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after acquiring an additional 1,127,399 shares during the period. American Century Companies Inc. raised its position in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Coterra Energy in the 2nd quarter valued at about $12,898,000. Finally, US Bancorp DE boosted its position in shares of Coterra Energy by 30.0% during the 3rd quarter. US Bancorp DE now owns 1,632,233 shares of the company’s stock valued at $39,092,000 after purchasing an additional 376,607 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTRA. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Mizuho lifted their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays boosted their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Piper Sandler raised their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Morgan Stanley upped their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Stock Up 0.1 %

CTRA stock opened at $26.72 on Friday. The firm has a market capitalization of $19.68 billion, a PE ratio of 16.10, a P/E/G ratio of 1.73 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The stock’s 50 day moving average is $24.71 and its 200-day moving average is $25.40.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.47 earnings per share. Coterra Energy’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

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.