Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. reduced its holdings in Coterra Energy Inc. by 28.4% during the first quarter, currently owning around 391,612 shares valued at approximately $11.32 million.
• Coterra Energy reported a quarterly earnings per share of $0.80, surpassing analysts' estimates of $0.71, with a year-over-year revenue increase of 32.9%.
• The company's recent dividend was $0.22 per share, representing an annualized dividend yield of 3.70% and a payout ratio of 51.16%.

Heartland Advisors Inc. trimmed its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 391,612 shares of the company's stock after selling 155,415 shares during the period. Heartland Advisors Inc. owned about 0.05% of Coterra Energy worth $11,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Cornerstone Planning Group LLC increased its position in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after purchasing an additional 737 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Coterra Energy during the first quarter valued at approximately $34,000. Investors Research Corp raised its stake in 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. Finally, Catalyst Capital Advisors LLC bought a new position in Coterra Energy in the first quarter worth approximately $46,000. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTRA. Barclays increased 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. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price target (up previously from $36.00) on shares of Coterra Energy in a research report on Thursday, July 17th. Raymond James Financial set a $38.00 target price on Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research note on Tuesday, April 15th. Finally, Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.16.

Coterra Energy Price Performance

NYSE:CTRA traded up $0.20 during trading hours on Tuesday, reaching $24.01. 3,087,985 shares of the company were exchanged, compared to its average volume of 7,065,542. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $18.33 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.32 and a beta of 0.35. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The stock's 50-day moving average is $25.17 and its 200-day moving average is $26.30.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. 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 firm earned $0.51 EPS. The company's revenue for the quarter was up 32.9% on a year-over-year basis. On average, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is 51.16%.

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.