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 trimmed 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 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,860,510 shares of the company's stock after selling 169,449 shares during the quarter. Amundi owned approximately 0.64% of Coterra Energy worth $132,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. EP Wealth Advisors LLC boosted its stake in shares of Coterra Energy by 38.6% during the first quarter. EP Wealth Advisors LLC now owns 34,192 shares of the company's stock valued at $988,000 after purchasing an additional 9,518 shares during the period. Cigna Investments Inc. New bought a new stake in Coterra Energy during the 1st quarter valued at $215,000. One Wealth Capital Management LLC bought a new stake in Coterra Energy during the 1st quarter valued at $203,000. Flputnam Investment Management Co. boosted its position in Coterra Energy by 6.8% during the 1st quarter. Flputnam Investment Management Co. now owns 33,174 shares of the company's stock valued at $959,000 after buying an additional 2,100 shares during the period. Finally, Royal Bank of Canada grew its holdings in Coterra Energy by 5.6% in the 1st quarter. Royal Bank of Canada now owns 3,830,864 shares of the company's stock worth $110,712,000 after acquiring an additional 201,964 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 0.0%

NYSE:CTRA traded down $0.01 during mid-day trading on Thursday, hitting $24.36. 5,426,563 shares of the company's stock were exchanged, compared to its average volume of 5,264,521. The company has a market cap of $18.59 billion, a PE ratio of 11.66, a P/E/G ratio of 0.33 and a beta of 0.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy Inc. has a one year low of $22.41 and a one year high of $29.95. The business has a fifty day moving average price of $24.15 and a 200 day moving average price of $25.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results 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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business posted $0.37 EPS. Coterra Energy's revenue for the quarter was up 54.6% on a year-over-year basis. Equities analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CTRA shares. Raymond James Financial reaffirmed an "outperform" rating and set a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a research note on Thursday. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Barclays increased their price objective on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.39.

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.