Chelsea Counsel Co. Has $1.04 Million Stake in Coterra Energy Inc. $CTRA

Key Points

• Chelsea Counsel Co. reduced its stake in Coterra Energy Inc. by 47.5%, leaving it with 35,902 shares valued at approximately $1,038,000.
• Coterra Energy reported a quarterly EPS of $0.48, missing analyst expectations, but logged a revenue of $1.97 billion, exceeding estimates.
• The company recently declared a quarterly dividend of $0.22 per share, leading to an annualized dividend yield of 3.6%.

Chelsea Counsel Co. trimmed its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 47.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,902 shares of the company's stock after selling 32,517 shares during the period. Chelsea Counsel Co.'s holdings in Coterra Energy were worth $1,038,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its position in Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after acquiring an additional 555 shares during the period. Raleigh Capital Management Inc. grew its position in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after acquiring an additional 737 shares during the period. Banque Cantonale Vaudoise bought a new stake in Coterra Energy in the first quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in shares of Coterra Energy during the first quarter worth $34,000. Finally, Investors Research Corp grew its holdings 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 purchasing an additional 408 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Down 0.0%

Coterra Energy stock traded down $0.01 during mid-day trading on Friday, hitting $24.36. The stock had a trading volume of 4,146,724 shares, compared to its average volume of 5,107,425. The stock has a 50-day simple moving average of $24.14 and a two-hundred day simple moving average of $25.31. The stock has a market capitalization of $18.59 billion, a PE ratio of 11.66, a P/E/G ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a 12 month low of $22.46 and a 12 month high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

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

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.6%. Coterra Energy's dividend payout ratio is presently 42.11%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several research analyst reports. Barclays increased their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. The Goldman Sachs Group restated a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Finally, Raymond James Financial restated an "outperform" rating and set a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.