Ameriprise Financial Inc. Sells 48,707 Shares of Coterra Energy Inc. $CTRA

Key Points

• Ameriprise Financial Inc. reduced its holdings in Coterra Energy by 3.6% in the 1st quarter, owning approximately 1.29 million shares valued at $37.34 million.
• Multiple institutional investors have increased their stakes in Coterra Energy, indicating positive interest in the stock; over 87.92% of the company’s stock is now held by hedge funds and institutional investors.
• Coterra Energy reported a quarterly earnings per share of $0.48, missing estimates by $0.02, but experienced a 54.6% increase in revenue year-over-year, totaling $1.97 billion.

Ameriprise Financial Inc. lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,291,818 shares of the company's stock after selling 48,707 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.17% of Coterra Energy worth $37,340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. lifted its position in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Coterra Energy during the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Coterra Energy during the first quarter worth approximately $34,000. Finally, Investors Research Corp raised its stake in shares of Coterra Energy by 45.2% during 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 in the last quarter. Institutional investors own 87.92% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CTRA. Piper Sandler lifted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. UBS Group cut their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.61.

Coterra Energy Stock Performance

CTRA traded down $0.69 during midday trading on Wednesday, hitting $24.06. 2,580,591 shares of the company traded hands, compared to its average volume of 6,973,433. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $18.36 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.33 and a beta of 0.34. The company's 50-day moving average is $24.34 and its 200 day moving average is $25.51. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company posted $0.37 EPS. Coterra Energy's revenue was up 54.6% on a year-over-year basis. On average, research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio is 42.11%.

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.