Easterly Investment Partners LLC Has $9.84 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

Easterly Investment Partners LLC lessened its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 28.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 340,479 shares of the company's stock after selling 138,418 shares during the period. Easterly Investment Partners LLC's holdings in Coterra Energy were worth $9,840,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTRA. Dark Forest Capital Management LP purchased a new stake in Coterra Energy during the 4th quarter worth $942,000. State of Tennessee Department of Treasury increased its stake in Coterra Energy by 7.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock worth $12,075,000 after buying an additional 31,425 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Coterra Energy during the 4th quarter worth $641,000. Intech Investment Management LLC increased its stake in Coterra Energy by 56.7% during the 4th quarter. Intech Investment Management LLC now owns 67,858 shares of the company's stock worth $1,733,000 after buying an additional 24,560 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Coterra Energy by 7.6% during the 1st 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 period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Down 0.3%

Shares of NYSE CTRA traded down $0.07 during mid-day trading on Friday, reaching $24.38. 7,663,488 shares of the company traded hands, compared to its average volume of 6,571,755. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a market cap of $18.61 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35. The company's fifty day moving average is $25.30 and its two-hundred day moving average is $26.44. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

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

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Thursday, May 15th. Coterra Energy's payout ratio is currently 51.16%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Susquehanna dropped their target price on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Finally, Wells Fargo & Company dropped their target price on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.16.

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.