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Truist Financial Corp Invests $16.60 Million in Coterra Energy Inc. (NYSE:CTRA) – Defense World

Written by Amanda

Truist Financial Corp Invests $16.60 Million in Coterra Energy Inc. (NYSE:CTRA)  Defense World

Truist Financial Corp acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRAGet Rating) during the 1st quarter, Holdings Channel reports. The fund acquired 615,504 shares of the company’s stock, valued at approximately $16,600,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $32,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $37,000. Selective Wealth Management Inc. purchased a new stake in shares of Coterra Energy during the 1st quarter worth approximately $40,000. Gemmer Asset Management LLC purchased a new stake in Coterra Energy during the 1st quarter valued at $43,000. Finally, Farmers & Merchants Investments Inc. purchased a new stake in Coterra Energy during the 1st quarter valued at $59,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

CTRA opened at $26.31 on Friday. Coterra Energy Inc. has a 12-month low of $14.28 and a 12-month high of $36.55. The company has a current ratio of 1.57, a quick ratio of 1.54 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $30.53 and its 200-day simple moving average is $26.46. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.11 and a beta of -0.03.

Coterra Energy (NYSE:CTRAGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. Coterra Energy had a return on equity of 24.79% and a net margin of 35.13%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts predict that Coterra Energy Inc. will post 4.21 EPS for the current year.

The business also recently disclosed a None dividend, which was paid on Wednesday, May 25th. Investors of record on Friday, May 13th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, May 12th. This represents a yield of 1.8%. This is an increase from Coterra Energy’s previous None dividend of $0.50. Coterra Energy’s dividend payout ratio (DPR) is presently 27.91%.

In other Coterra Energy news, EVP Stephen P. Bell sold 36,327 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $35.41, for a total value of $1,286,339.07. Following the completion of the sale, the executive vice president now directly owns 351,436 shares in the company, valued at $12,444,348.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Francis Brian Barron sold 10,000 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $33.52, for a total value of $335,200.00. Following the completion of the sale, the senior vice president now owns 281,212 shares of the company’s stock, valued at $9,426,226.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,327 shares of company stock worth $3,213,039. 1.60% of the stock is owned by corporate insiders.

Several analysts recently weighed in on CTRA shares. Citigroup lowered Coterra Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $40.00 to $27.00 in a report on Friday, June 24th. Truist Financial increased their price target on Coterra Energy from $29.00 to $41.00 in a report on Thursday, April 21st. Wells Fargo & Company increased their price target on Coterra Energy from $31.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, March 14th. Barclays increased their price target on Coterra Energy from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, June 14th. Finally, Piper Sandler cut their price objective on Coterra Energy to $34.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.64.

About Coterra Energy (Get Rating)

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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

See Also

Want to see what other hedge funds are holding CTRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coterra Energy Inc. (NYSE:CTRAGet Rating).

Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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