Amundi Sells 169,449 Shares of Coterra Energy Inc. $CTRA

Key Points

• Amundi has reduced its stake in Coterra Energy Inc. by 3.4%, selling 169,449 shares during the 1st quarter, leaving it with approximately 4.86 million shares valued at $132.99 million.
• Coterra Energy reported earnings of $0.48 per share for the quarter, falling short of analysts' expectations, although revenue increased 54.6% year-over-year to $1.97 billion.
• The company declared a quarterly dividend of $0.22 per share, translating to an annualized dividend yield of 3.7%, with a payout ratio of 42.11%.

Amundi lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,860,510 shares of the company's stock after selling 169,449 shares during the quarter. Amundi owned 0.64% of Coterra Energy worth $132,988,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Cornerstone Planning Group LLC grew its position in Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after acquiring an additional 737 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Coterra Energy in the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new position in Coterra Energy in the 1st quarter valued at $34,000. Finally, Investors Research Corp grew its position in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after acquiring an additional 408 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of CTRA stock opened at $23.95 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.33 and a beta of 0.34. The stock has a fifty day simple moving average of $24.24 and a two-hundred day simple moving average of $25.45. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. On average, 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 was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio is 42.11%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several research analyst reports. Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. 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. UBS Group lowered their target price on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.61.

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.

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