Easterly Investment Partners LLC Has $1.28 Million Stake in Coterra Energy Inc. $CTRA

Key Points

• Easterly Investment Partners LLC significantly reduced its stake in Coterra Energy Inc. by 85.2% during the second quarter, now owning $1.28 million worth of shares.
• Coterra Energy reported a 54.6% increase in revenue year-over-year, generating $1.97 billion in the last quarter despite missing EPS estimates.
• The company declared a quarterly dividend of $0.22 per share, representing an annual yield of 3.9%, and its dividend payout ratio stands at 42.11%.

Easterly Investment Partners LLC trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 85.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,300 shares of the company's stock after selling 290,179 shares during the quarter. Easterly Investment Partners LLC's holdings in Coterra Energy were worth $1,277,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CTRA. Vanguard Group Inc. grew its holdings in Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock worth $2,668,559,000 after buying an additional 3,818,700 shares in the last quarter. Wellington Management Group LLP grew its holdings in Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock worth $2,416,939,000 after buying an additional 11,102,350 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company's stock worth $731,313,000 after buying an additional 1,837,614 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Coterra Energy by 5.7% during the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company's stock worth $544,149,000 after buying an additional 1,019,995 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Coterra Energy by 1.2% during the first quarter. Invesco Ltd. now owns 12,384,728 shares of the company's stock worth $357,919,000 after buying an additional 152,244 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Up 1.0%

Shares of NYSE:CTRA opened at $22.82 on Friday. The company has a market capitalization of $17.41 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The business has a fifty day moving average price of $23.80 and a two-hundred day moving average price of $24.61. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95.

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

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders 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 annualized dividend and a dividend yield of 3.9%. Coterra Energy's dividend payout ratio is presently 42.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTRA shares. UBS Group decreased their price target on Coterra Energy from $30.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday. Roth Capital decreased their price target on Coterra Energy from $27.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday. Piper Sandler upped their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. 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. Finally, Morgan Stanley decreased their price target on Coterra Energy from $29.00 to $28.00 and set an "equal weight" rating for the company in a report on Tuesday. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

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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