Coterra Energy Inc. $CTRA Holdings Reduced by Chelsea Counsel Co.

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. lowered its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 47.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,902 shares of the company's stock after selling 32,517 shares during the quarter. Chelsea Counsel Co.'s holdings in Coterra Energy were worth $1,038,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in shares of Coterra Energy by 29.2% in the first quarter. Geneos Wealth Management Inc. now owns 6,417 shares of the company's stock worth $185,000 after acquiring an additional 1,449 shares in the last quarter. Focus Partners Wealth raised its position in shares of Coterra Energy by 16.2% in the 1st quarter. Focus Partners Wealth now owns 712,564 shares of the company's stock valued at $20,593,000 after purchasing an additional 99,558 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Coterra Energy by 10.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,183,663 shares of the company's stock valued at $92,008,000 after buying an additional 297,074 shares during the last quarter. Empowered Funds LLC grew its position in shares of Coterra Energy by 6.5% during the first quarter. Empowered Funds LLC now owns 593,950 shares of the company's stock worth $17,165,000 after buying an additional 36,028 shares in the last quarter. Finally, Dean Capital Management grew its position in shares of Coterra Energy by 2.3% during the first quarter. Dean Capital Management now owns 51,608 shares of the company's stock worth $1,491,000 after buying an additional 1,146 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTRA. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Piper Sandler lifted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Raymond James Financial reissued an "outperform" rating and issued a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a report on Thursday. Finally, Mizuho cut their price objective on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research note on Monday. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.22.

Coterra Energy Stock Performance

CTRA traded down $0.13 on Monday, hitting $24.24. 2,076,645 shares of the company's stock were exchanged, compared to its average volume of 6,879,502. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $24.14 and a two-hundred day moving average of $25.30. Coterra Energy Inc. has a twelve month low of $22.46 and a twelve month high of $29.95. The firm has a market cap of $18.49 billion, a PE ratio of 11.60, a P/E/G ratio of 0.34 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.97 billion for 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%. The firm's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. On average, research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal 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. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

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.