Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,271 shares of the company's stock after selling 24,401 shares during the quarter. Manning & Napier Advisors LLC's holdings in Coterra Energy were worth $7,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CTRA. Private Trust Co. NA increased its position in Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after purchasing an additional 356 shares during the last quarter. Donald L. Hagan LLC increased its position in Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after purchasing an additional 401 shares during the last quarter. Investors Research Corp increased its holdings in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after buying an additional 408 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company's stock worth $2,543,000 after buying an additional 421 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock worth $44,000 after buying an additional 429 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent analyst reports. Piper Sandler cut their target price on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and raised their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Mizuho cut their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, UBS Group dropped their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.30.

Coterra Energy Stock Up 0.9%

CTRA stock opened at $26.98 on Monday. The company's 50 day moving average price is $25.13 and its 200 day moving average price is $26.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.37 and a beta of 0.34.

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, beating analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The company had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm posted $0.51 EPS. The company's quarterly revenue was up 32.9% compared to the same quarter last year. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is presently 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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