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

Key Points

• KLCM Advisors Inc. has significantly decreased its stake in Coterra Energy Inc. by 98.3%, reducing its holdings to 9,455 shares valued at $273,000 after selling 532,522 shares.
• Coterra Energy reported a quarterly earnings per share (EPS) of $0.48, missing expectations, but its revenue of $1.97 billion exceeded analysts' forecasts.
• The company declared a quarterly dividend of $0.22 per share, leading to an annualized dividend yield of 3.6%, with an ex-dividend date set for August 14th.

KLCM Advisors Inc. cut its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 98.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,455 shares of the company's stock after selling 532,522 shares during the period. KLCM Advisors Inc.'s holdings in Coterra Energy were worth $273,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CTRA. Mizuho dropped their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. UBS Group decreased their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Bank of America decreased their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average price target of $33.37.

Coterra Energy Stock Performance

Shares of CTRA traded down $0.03 during midday trading on Friday, hitting $24.04. 6,328,155 shares of the stock traded hands, compared to its average volume of 7,132,519. The firm has a market capitalization of $18.35 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. The business's 50 day moving average price is $24.97 and its two-hundred day moving average price is $25.85. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%. The business's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. Equities research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy's dividend payout ratio is presently 42.11%.

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.