AQR Capital Management LLC Sells 1,177,947 Shares of Coterra Energy Inc. $CTRA

Key Points

• AQR Capital Management LLC reduced its stake in Coterra Energy Inc. by 35.0% during the first quarter, now owning 2,185,891 shares worth approximately $63.15 million.
• Coterra Energy reported $0.48 earnings per share (EPS) for the last quarter, missing analysts' estimates, but revenue was up 54.6% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized yield of 3.7% and a payout ratio of 42.11%.

AQR Capital Management LLC reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 35.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,185,891 shares of the company's stock after selling 1,177,947 shares during the quarter. AQR Capital Management LLC owned about 0.29% of Coterra Energy worth $63,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. American Trust Investment Advisors LLC increased its holdings in Coterra Energy by 1.4% in the 1st quarter. American Trust Investment Advisors LLC now owns 144,535 shares of the company's stock valued at $4,177,000 after acquiring an additional 2,025 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Coterra Energy by 38.6% during the first quarter. EP Wealth Advisors LLC now owns 34,192 shares of the company's stock valued at $988,000 after purchasing an additional 9,518 shares in the last quarter. Cigna Investments Inc. New bought a new stake in shares of Coterra Energy in the first quarter worth about $215,000. One Wealth Capital Management LLC purchased a new stake in shares of Coterra Energy in the first quarter worth about $203,000. Finally, Flputnam Investment Management Co. lifted its position in shares of Coterra Energy by 6.8% in the first quarter. Flputnam Investment Management Co. now owns 33,174 shares of the company's stock worth $959,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of research reports. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Wells Fargo & Company upped their price target 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. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Raymond James Financial restated an "outperform" rating and issued a $34.00 target price (down from $38.00) on shares of Coterra Energy in a report on Thursday. Finally, Barclays upped their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.39.

Coterra Energy Trading Down 0.0%

CTRA traded down $0.01 during trading hours on Thursday, reaching $24.36. 5,426,563 shares of the company's stock traded hands, compared to its average volume of 5,264,521. The firm has a 50-day moving average price of $24.15 and a 200 day moving average price of $25.34. The firm has a market capitalization of $18.59 billion, a PE ratio of 11.66, a PEG ratio of 0.33 and a beta of 0.34. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 52-week low of $22.41 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share 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 the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders 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 of this dividend was Thursday, August 14th. Coterra Energy's payout ratio is 42.11%.

About Coterra Energy

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.