Concurrent Investment Advisors LLC cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 56.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,525 shares of the company's stock after selling 9,889 shares during the period. Concurrent Investment Advisors LLC's holdings in Coterra Energy were worth $217,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CTRA. Bank of New York Mellon Corp raised its holdings in Coterra Energy by 6.8% in the 1st quarter. Bank of New York Mellon Corp now owns 5,281,168 shares of the company's stock valued at $152,626,000 after buying an additional 337,902 shares during the last quarter. World Investment Advisors acquired a new stake in shares of Coterra Energy in the first quarter valued at about $206,000. Wayfinding Financial LLC bought a new position in shares of Coterra Energy during the first quarter worth about $34,000. Catalyst Capital Advisors LLC bought a new position in shares of Coterra Energy during the first quarter worth about $46,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Coterra Energy in the first quarter worth approximately $4,638,000. Institutional investors and hedge funds own 87.92% of the company's stock.
Coterra Energy Stock Performance
Shares of Coterra Energy stock traded down $0.44 during trading hours on Wednesday, reaching $24.20. The company had a trading volume of 7,212,953 shares, compared to its average volume of 6,557,571. The firm has a market cap of $18.47 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.35 and a beta of 0.35. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The business has a fifty day simple moving average of $25.22 and a 200 day simple moving average of $26.46.
Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.
Coterra Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.64%. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Bank of America lowered their price target on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Wells Fargo & Company dropped their price objective on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Finally, UBS Group decreased their target price on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Four equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.20.
Check Out Our Latest Analysis on CTRA
Coterra Energy Company Profile
(
Free Report)
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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