PNC Financial Services Group Inc. Has $7.22 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

PNC Financial Services Group Inc. cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,375 shares of the company’s stock after selling 17,402 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Coterra Energy were worth $7,218,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTRA. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coterra Energy in the third quarter worth $360,000. Equity Investment Corp lifted its position in shares of Coterra Energy by 5.1% during the 3rd quarter. Equity Investment Corp now owns 3,393,798 shares of the company’s stock worth $81,281,000 after buying an additional 166,120 shares during the period. Thrivent Financial for Lutherans boosted its stake in Coterra Energy by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 471,256 shares of the company’s stock valued at $11,287,000 after buying an additional 3,920 shares in the last quarter. BCGM Wealth Management LLC grew its position in Coterra Energy by 0.5% in the third quarter. BCGM Wealth Management LLC now owns 101,597 shares of the company’s stock valued at $2,433,000 after acquiring an additional 514 shares during the period. Finally, Schear Investment Advisers LLC raised its stake in Coterra Energy by 14.0% during the third quarter. Schear Investment Advisers LLC now owns 44,468 shares of the company’s stock worth $1,065,000 after acquiring an additional 5,444 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Up 0.7 %

Shares of NYSE CTRA opened at $27.63 on Friday. The company’s 50 day simple moving average is $24.36 and its 200 day simple moving average is $25.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm has a market capitalization of $20.35 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.78 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. On average, analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.04%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CTRA shares. Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley upped their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Insider Activity

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

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.