Alyeska Investment Group L.P. Sells 194,468 Shares of Coterra Energy Inc. $CTRA

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Coterra Energy Inc. by 15.0%, selling 194,468 shares and now owning 1,102,908 shares valued at approximately $31.87 million.
• Coterra Energy has recently announced a quarterly dividend of $0.22 per share, leading to an annualized yield of 3.7%.
• Recent analyst reports show price target adjustments for Coterra Energy, with a consensus price target of $33.61 and a majority rating of "Moderate Buy".

Alyeska Investment Group L.P. decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 15.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,102,908 shares of the company's stock after selling 194,468 shares during the period. Alyeska Investment Group L.P. owned 0.14% of Coterra Energy worth $31,874,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CTRA. Allspring Global Investments Holdings LLC boosted its holdings in Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after purchasing an additional 8,726 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $233,000. Janney Montgomery Scott LLC boosted its stake in shares of Coterra Energy by 9.4% in the first quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company's stock valued at $7,275,000 after buying an additional 21,733 shares during the period. Spire Wealth Management boosted its stake in shares of Coterra Energy by 428.6% in the first quarter. Spire Wealth Management now owns 2,294 shares of the company's stock valued at $66,000 after buying an additional 1,860 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Coterra Energy by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 86,307 shares of the company's stock worth $2,494,000 after buying an additional 2,325 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CTRA shares. Mizuho reduced their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, July 1st. Piper Sandler increased their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Barclays increased their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.61.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $24.06 on Thursday. The company has a 50 day moving average of $24.30 and a 200-day moving average of $25.50. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The company has a market cap of $18.36 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.33 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued 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 the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy's revenue for the quarter was up 54.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy's dividend payout ratio is presently 42.11%.

Coterra Energy 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.

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