AlphaQuest LLC Cuts Position in Coterra Energy Inc. $CTRA

Key Points

• AlphaQuest LLC has drastically reduced its holdings in Coterra Energy Inc. by 61.2%, now owning 9,922 shares after selling 15,624 shares in the first quarter.
• Coterra Energy's stock has received a consensus rating of "Moderate Buy" from analysts, with a current average price target of $33.61.
• The company's latest quarterly earnings report showed a revenue increase of 54.6% year-over-year, although it missed the earnings per share estimate by $0.02.

AlphaQuest LLC cut its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 61.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,922 shares of the company's stock after selling 15,624 shares during the quarter. AlphaQuest LLC's holdings in Coterra Energy were worth $287,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Donald L. Hagan LLC raised its position in Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after acquiring an additional 401 shares in the last quarter. Investors Research Corp lifted its holdings in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after acquiring an additional 408 shares during the period. Saxon Interests Inc. boosted its stake in shares of Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after purchasing an additional 451 shares in the last quarter. Tectonic Advisors LLC grew its holdings in Coterra Energy by 3.2% during the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock worth $429,000 after acquiring an additional 459 shares during the last quarter. Finally, Procyon Advisors LLC increased its position in Coterra Energy by 3.6% during the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock valued at $389,000 after purchasing an additional 469 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTRA shares. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Mizuho cut their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Finally, Wells Fargo & Company upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.61.

Coterra Energy Price Performance

NYSE CTRA traded down $0.49 on Wednesday, hitting $24.26. The company had a trading volume of 770,611 shares, compared to its average volume of 6,961,763. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. 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's fifty day moving average price is $24.34 and its 200-day moving average price is $25.51. The company has a market capitalization of $18.51 billion, a PE ratio of 11.61, a PEG ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is 42.11%.

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.