274,701 Shares in Coterra Energy Inc. (NYSE:CTRA) Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 274,701 shares of the company's stock, valued at approximately $7,939,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. 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 buying an additional 408 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Coterra Energy in the 1st quarter worth $47,000. Plato Investment Management Ltd purchased a new stake in shares of Coterra Energy in the fourth quarter valued at about $43,000. VSM Wealth Advisory LLC acquired a new position in shares of Coterra Energy during the fourth quarter worth about $46,000. Finally, Nemes Rush Group LLC purchased a new position in Coterra Energy during the fourth quarter worth about $48,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $0.30 during trading on Tuesday, reaching $25.08. The company had a trading volume of 5,372,530 shares, compared to its average volume of 6,485,293. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock has a 50-day moving average price of $25.21 and a two-hundred day moving average price of $26.41. The stock has a market capitalization of $19.14 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm's quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. As a group, sell-side 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, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.51%. Coterra Energy's payout ratio is currently 51.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTRA shares. Mizuho lowered their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Barclays reduced their price target on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Bank of America dropped their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. Finally, Raymond James Financial set a $38.00 target price on shares of Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

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.