Coterra Energy Inc. $CTRA Stock Position Decreased by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI cut its stake in Coterra Energy by 75.7% in the first quarter, holding 550,450 shares post-sale, valued at $15.9 million.
• Institutional investors own 87.92% of Coterra Energy, with several firms increasing their positions during the same quarter.
• Coterra Energy reported $1.97 billion in revenue for the last quarter, exceeding analyst expectations and representing a 54.6% year-over-year increase.

Zurich Insurance Group Ltd FI cut its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 75.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,450 shares of the company's stock after selling 1,715,667 shares during the quarter. Zurich Insurance Group Ltd FI owned 0.07% of Coterra Energy worth $15,908,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CTRA. Algert Global LLC purchased a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $374,000. Ameriprise Financial Inc. boosted its position in Coterra Energy by 19.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,340,525 shares of the company's stock worth $34,237,000 after purchasing an additional 216,865 shares in the last quarter. Focus Partners Wealth boosted its position in Coterra Energy by 26.5% during the fourth quarter. Focus Partners Wealth now owns 613,006 shares of the company's stock worth $15,664,000 after purchasing an additional 128,555 shares in the last quarter. Janus Henderson Group PLC boosted its position in 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. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Coterra Energy during the fourth quarter worth $19,623,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on CTRA shares. Raymond James Financial reiterated an "outperform" rating and set a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research report on Thursday. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Barclays boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.22.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded down $0.09 on Monday, reaching $24.28. 1,620,966 shares of the company were exchanged, compared to its average volume of 6,876,715. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 0.34 and a beta of 0.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The company's 50-day moving average is $24.14 and its two-hundred day moving average is $25.30.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced 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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the firm posted $0.37 EPS. The business's revenue was up 54.6% compared to the same quarter last year. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is currently 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.