Coterra Energy Inc. (NYSE:CTRA) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 729,658 shares of the company's stock after purchasing an additional 57,068 shares during the period. DAVENPORT & Co LLC owned approximately 0.10% of Coterra Energy worth $21,087,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CTRA. Private Trust Co. NA raised its stake in shares of Coterra Energy by 20.0% in the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock valued at $55,000 after acquiring an additional 356 shares during the period. Donald L. Hagan LLC raised its stake in shares of Coterra Energy by 1.1% in the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock valued at $1,033,000 after acquiring an additional 401 shares during the period. Investors Research Corp raised its stake in shares of Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after acquiring an additional 408 shares during the period. Saxon Interests Inc. raised its stake in shares of Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after acquiring an additional 451 shares during the period. Finally, Procyon Advisors LLC raised its stake in shares of Coterra Energy by 3.6% in the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock valued at $389,000 after acquiring an additional 469 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.6%

NYSE CTRA traded up $0.16 on Thursday, hitting $25.19. 3,494,277 shares of the stock were exchanged, compared to its average volume of 6,514,172. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a market cap of $19.22 billion, a PE ratio of 14.64, a PEG ratio of 0.34 and a beta of 0.35. The company has a 50-day moving average price of $25.20 and a 200-day moving average price of $26.40.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS 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 company had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm's revenue was up 32.9% on a year-over-year basis. Sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business 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 3.49%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is 51.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CTRA shares. Scotiabank reduced their price target on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Mizuho cut their target price on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group cut their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Raymond James Financial set a $38.00 target price on shares of Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Bank of America cut their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.00.

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.