Eagle Rock Investment Company LLC Reduces Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Eagle Rock Investment Company LLC reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 54.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,195 shares of the company's stock after selling 30,000 shares during the period. Eagle Rock Investment Company LLC's holdings in Coterra Energy were worth $728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investors Research Corp boosted its stake in Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Coterra Energy during the 4th quarter valued at about $43,000. Deseret Mutual Benefit Administrators boosted its stake in Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock valued at $44,000 after purchasing an additional 429 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Coterra Energy during the 4th quarter valued at about $46,000. Finally, Nemes Rush Group LLC acquired a new position in Coterra Energy during the 4th quarter valued at about $48,000. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a report on Tuesday, April 15th. The Goldman Sachs Group boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Piper Sandler cut their target price on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Raymond James cut their target price on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Finally, UBS Group cut their target price on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.50.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded down $0.08 during trading on Tuesday, hitting $25.87. The stock had a trading volume of 6,398,790 shares, compared to its average volume of 6,426,729. The firm has a market cap of $19.74 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 0.59 and a beta of 0.34. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The business's 50-day moving average is $24.91 and its 200 day moving average is $26.36. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to analysts' expectations of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business's quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.40%. Coterra Energy's dividend payout ratio is presently 51.16%.

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.