Coterra Energy Inc. $CTRA Shares Sold by Sapient Capital LLC

Key Points

• Sapient Capital LLC reduced its stake in Coterra Energy by 46.7%, owning 23,562 shares after selling 20,626 shares in the second quarter, which were valued at approximately $598,000.
• Several institutional investors, including Janus Henderson Group and Toronto Dominion Bank, have recently increased their holdings in Coterra Energy, indicating a positive outlook among investors.
• Coterra Energy's quarterly earnings report showed a 54.6% increase in revenue year-over-year, although it missed earnings expectations by $0.02.

Sapient Capital LLC lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 46.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,562 shares of the company's stock after selling 20,626 shares during the quarter. Sapient Capital LLC's holdings in Coterra Energy were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTRA. Janus Henderson Group PLC lifted its stake in shares of Coterra Energy by 2.3% during the fourth quarter. Janus Henderson Group PLC now owns 75,678 shares of the company's stock worth $1,933,000 after purchasing an additional 1,688 shares in the last quarter. Snowden Capital Advisors LLC lifted its stake in shares of Coterra Energy by 10.4% during the fourth quarter. Snowden Capital Advisors LLC now owns 26,949 shares of the company's stock worth $688,000 after purchasing an additional 2,534 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Coterra Energy by 5.8% during the fourth quarter. Toronto Dominion Bank now owns 386,016 shares of the company's stock worth $9,859,000 after purchasing an additional 21,091 shares in the last quarter. State of Wyoming increased its position in shares of Coterra Energy by 406.8% during the fourth quarter. State of Wyoming now owns 14,079 shares of the company's stock worth $360,000 after acquiring an additional 11,301 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Coterra Energy by 6.2% during the fourth quarter. Tidal Investments LLC now owns 152,882 shares of the company's stock worth $3,905,000 after acquiring an additional 8,935 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTRA. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Piper Sandler lifted their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, July 1st. Finally, Mizuho dropped their target price on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.22.

Coterra Energy Trading Down 0.7%

NYSE CTRA opened at $24.38 on Thursday. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year 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. The company has a market capitalization of $18.61 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34. The firm's fifty day simple moving average is $24.10 and its 200-day simple moving average is $25.27.

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 business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company's quarterly revenue was up 54.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's dividend payout ratio 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.

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