Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,511 shares of the company's stock after selling 108,376 shares during the period. Lazard Asset Management LLC's holdings in Coterra Energy were worth $4,073,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Private Trust Co. NA grew its position in shares of Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after acquiring an additional 356 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock worth $559,000 after purchasing an additional 389 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock worth $288,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. lifted its holdings in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company's stock worth $182,000 after purchasing an additional 420 shares during the period. Finally, New York Life Investment Management LLC lifted its holdings in shares of Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock worth $2,543,000 after purchasing an additional 421 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of CTRA traded down $0.18 during trading hours on Wednesday, reaching $24.71. 1,529,579 shares of the company traded hands, compared to its average volume of 6,399,661. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.86 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock has a fifty day simple moving average of $26.04 and a 200 day simple moving average of $26.42.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. As a group, research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy's payout ratio is currently 51.16%.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at approximately $3,374,617.40. This trade represents a 21.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CTRA shares. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday. UBS Group decreased their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Jefferies Financial Group increased their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Barclays decreased their price target on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.50.

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.