Coterra Energy Inc. (NYSE:CTRA) Holdings Cut by XTX Topco Ltd

Key Points

• XTX Topco Ltd has reduced its stake in Coterra Energy Inc. by 49.3%, now holding 36,809 shares valued at $1.06 million as per the recent SEC filing.
• Analysts have varying price targets for Coterra Energy, with Piper Sandler setting a target of $37.00 while others range from $28.00 to $38.00, indicating a consensus rating of "Moderate Buy".
• Coterra Energy's stock has seen a 2.9% decline, with its recent quarterly earnings report showing a 32.9% increase in revenue year-over-year.

XTX Topco Ltd lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 49.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,809 shares of the company's stock after selling 35,835 shares during the period. XTX Topco Ltd's holdings in Coterra Energy were worth $1,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Dark Forest Capital Management LP acquired a new position in shares of Coterra Energy during the 4th quarter worth $942,000. State of Tennessee Department of Treasury boosted its holdings in Coterra Energy by 7.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock worth $12,075,000 after purchasing an additional 31,425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Coterra Energy during the fourth quarter worth $641,000. Allspring Global Investments Holdings LLC increased its position in Coterra Energy by 7.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock worth $3,577,000 after buying an additional 8,726 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Coterra Energy during the first quarter valued at about $233,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CTRA shares. Piper Sandler reiterated an "overweight" rating and set a $37.00 price target (up previously from $36.00) on shares of Coterra Energy in a research note on Thursday, July 17th. Susquehanna reduced their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley set a $28.00 price target on Coterra Energy in a report on Tuesday, April 15th. Mizuho dropped their price target 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. Finally, Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus price target of $33.16.

Coterra Energy Stock Down 2.9%

CTRA stock opened at $23.69 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The company has a market cap of $18.08 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. The business's 50-day simple moving average is $25.13 and its 200 day simple moving average is $26.19.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company's quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. On average, research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is 51.16%.

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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