Cypress Capital Group Decreases Stake in Coterra Energy Inc. $CTRA

Key Points

• Cypress Capital Group reduced its stake in Coterra Energy Inc. (CTRA) by 26.7% during the second quarter, owning 55,932 shares valued at approximately $1.42 million after the sale.
• Coterra Energy reported an EPS of $0.48 for its latest quarter, missing analyst expectations, but achieved a revenue of $1.97 billion, exceeding projections by 54.6% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, reflecting an annualized yield of 3.9% and a payout ratio of 42.11%.

Cypress Capital Group lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 26.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,932 shares of the company's stock after selling 20,345 shares during the period. Cypress Capital Group's holdings in Coterra Energy were worth $1,420,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its holdings in shares of Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after buying an additional 737 shares in the last quarter. REAP Financial Group LLC boosted its stake in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock worth $28,000 after buying an additional 726 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Coterra Energy during the first quarter worth $29,000. Finally, Wayfinding Financial LLC purchased a new stake in Coterra Energy in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $22.78 on Monday. Coterra Energy Inc. has a fifty-two week low of $22.46 and a fifty-two week 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. The company has a 50 day moving average price of $23.90 and a 200 day moving average price of $24.75. The stock has a market capitalization of $17.38 billion, a P/E ratio of 10.90, a PEG ratio of 0.32 and a beta of 0.29.

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

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.9%. Coterra Energy's dividend payout ratio is 42.11%.

Analysts Set New Price Targets

Several research firms have recently commented on CTRA. Raymond James Financial reiterated an "outperform" rating and set a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Scotiabank dropped their price target on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating for the company in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Piper Sandler upped their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $33.06.

About Coterra Energy

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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