Earnest Partners LLC Reduces Stock Position in Coterra Energy Inc. $CTRA

Key Points

• Earnest Partners LLC reduced its stake in Coterra Energy Inc. by 3.3% during the first quarter, owning 1,854,429 shares valued at approximately $53.59 million.
• Coterra Energy has a market capitalization of $18.40 billion, with stock currently trading at $24.12 per share, while the company reported $1.97 billion in quarterly revenue.
• Coterra recently declared a quarterly dividend of $0.22, providing a yield of 3.6%, with a payout ratio of 42.11%.

Earnest Partners LLC reduced its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,854,429 shares of the company's stock after selling 63,773 shares during the period. Earnest Partners LLC owned 0.24% of Coterra Energy worth $53,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. Cornerstone Planning Group LLC boosted its holdings in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise purchased a new position in Coterra Energy in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in Coterra Energy in the 1st quarter valued at approximately $34,000. Finally, Investors Research Corp lifted its holdings in shares of Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after buying an additional 408 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

NYSE CTRA traded up $0.06 on Monday, hitting $24.44. 3,605,307 shares of the company traded hands, compared to its average volume of 6,204,016. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 0.33 and a beta of 0.34. 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 business's 50 day moving average price is $24.43 and its 200-day moving average price is $25.54. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.78 billion. During the same quarter in the previous year, the business earned $0.37 EPS. The company's revenue for the quarter was up 54.6% on a year-over-year basis. Equities analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on CTRA. Mizuho decreased their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. UBS Group cut their target price on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Finally, Piper Sandler boosted their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Coterra Energy has a consensus rating of "Moderate Buy" and an average target price of $33.61.

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.