Bessemer Group Inc. Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Bessemer Group Inc. trimmed its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 72.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,205 shares of the company's stock after selling 41,762 shares during the quarter. Bessemer Group Inc.'s holdings in Coterra Energy were worth $468,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Investors Research Corp lifted its holdings in shares of Coterra Energy by 45.2% in the first 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 last quarter. Plato Investment Management Ltd acquired a new position in Coterra Energy during the 4th quarter worth approximately $43,000. VSM Wealth Advisory LLC bought a new position in Coterra Energy in the 4th quarter valued at approximately $46,000. Nemes Rush Group LLC acquired a new stake in Coterra Energy in the fourth quarter valued at approximately $48,000. Finally, Optiver Holding B.V. bought a new stake in shares of Coterra Energy during the fourth quarter worth $50,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Up 0.6%

NYSE CTRA traded up $0.16 during trading hours on Thursday, hitting $25.19. 3,494,277 shares of the company's stock were exchanged, compared to its average volume of 6,514,172. The stock has a 50-day simple moving average of $25.20 and a 200 day simple moving average of $26.40. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.34 and a beta of 0.35. 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 (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm posted $0.51 EPS. The company's quarterly revenue was up 32.9% on a year-over-year basis. On average, equities analysts forecast 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, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.49%. Coterra Energy's dividend payout ratio is currently 51.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler dropped their price target on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Bank of America dropped their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. UBS Group reduced their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Barclays lowered their price objective on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.