Adams Natural Resources Fund Inc. Cuts Position in Coterra Energy Inc. $CTRA

Key Points

• Adams Natural Resources Fund Inc. reduced its position in Coterra Energy Inc. by 35.3%, now holding 233,900 shares, making it the firm's 25th largest position.
• Coterra Energy recently reported quarterly earnings of $0.48 per share, missing expectations, but its revenue increased by 54.6% year-over-year, amounting to $1.97 billion.
• The company declared a quarterly dividend of $0.22 per share, yielding 3.8%, which reflects a dividend payout ratio (DPR) of 42.11%.

Adams Natural Resources Fund Inc. lessened its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 35.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 233,900 shares of the company's stock after selling 127,400 shares during the quarter. Coterra Energy comprises 0.9% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 25th largest position. Adams Natural Resources Fund Inc.'s holdings in Coterra Energy were worth $5,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRA. Cornerstone Planning Group LLC grew its holdings in Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. grew its holdings in shares of Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after buying an additional 737 shares during the last quarter. Bogart Wealth LLC purchased a new stake in shares of Coterra Energy during the second quarter valued at approximately $26,000. REAP Financial Group LLC grew its holdings in shares of Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock valued at $28,000 after buying an additional 726 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Coterra Energy during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Down 0.4%

Shares of CTRA stock opened at $23.33 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The company has a market cap of $17.80 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.35 and a beta of 0.29. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95. The firm has a fifty day moving average price of $23.78 and a 200-day moving average price of $24.54.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company's revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter last year, the company earned $0.37 earnings per share. As a group, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTRA. Zacks Research cut shares of Coterra Energy from a "hold" rating to a "strong sell" rating in a report on Monday, October 13th. The Goldman Sachs Group cut their price target on shares of Coterra Energy from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, October 15th. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Mizuho dropped their target price on shares of Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.60.

Coterra Energy Company Profile

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.

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:CTRA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.