Diamond Hill Capital Management Inc. Sells 204,053 Shares of Coterra Energy Inc. (NYSE:CTRA)

Diamond Hill Capital Management Inc. cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,757,876 shares of the company's stock after selling 204,053 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.36% of Coterra Energy worth $79,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its position in Coterra Energy by 175.6% in 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. lifted its stake in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after buying an additional 737 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Coterra Energy in the first quarter valued at $34,000. Investors Research Corp grew its holdings in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after buying an additional 408 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Coterra Energy during the first quarter worth about $46,000. Institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of CTRA stock traded up $0.35 during trading hours on Thursday, reaching $23.77. The stock had a trading volume of 7,168,485 shares, compared to its average volume of 6,428,421. The stock's fifty day simple moving average is $25.22 and its 200 day simple moving average is $26.37. The firm has a market capitalization of $18.14 billion, a PE ratio of 13.82, a PEG ratio of 0.32 and a beta of 0.35. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. The business had revenue of $924.00 million for the quarter, compared to analysts' expectations of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. On average, equities research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, May 15th. Coterra Energy's dividend payout ratio is 51.16%.

Analyst Ratings Changes

Several brokerages recently issued reports on CTRA. Bank of America cut their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Barclays lifted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research report on Tuesday, April 15th. Susquehanna dropped their price target on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group reduced their target price 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 research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.16.

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.