Eagle Rock Investment Company LLC Trims Stake in Coterra Energy Inc. (NYSE:CTRA)

Eagle Rock Investment Company LLC trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 54.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,195 shares of the company's stock after selling 30,000 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Coterra Energy were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTRA. Sterling Capital Management LLC lifted its stake in Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock worth $93,520,000 after purchasing an additional 3,599,042 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Coterra Energy by 117.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after purchasing an additional 2,600,801 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Coterra Energy during the fourth quarter worth about $61,461,000. Zurich Insurance Group Ltd FI bought a new stake in Coterra Energy during the fourth quarter worth about $57,877,000. Finally, Man Group plc lifted its stake in Coterra Energy by 81.4% during the fourth quarter. Man Group plc now owns 4,842,621 shares of the company's stock worth $123,681,000 after purchasing an additional 2,172,931 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 3.1%

CTRA opened at $25.59 on Friday. The business has a 50 day simple moving average of $25.00 and a two-hundred day simple moving average of $26.39. The firm has a market capitalization of $19.53 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 0.59 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.44%. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Analyst Ratings Changes

Several brokerages have issued reports on CTRA. Piper Sandler dropped their price target on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Scotiabank lowered their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Morgan Stanley set a $28.00 target price on Coterra Energy in a research note on Tuesday, April 15th. Finally, Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.50.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

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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