Econ Financial Services Corp lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 19.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,293 shares of the company's stock after selling 13,926 shares during the quarter. Econ Financial Services Corp's holdings in Coterra Energy were worth $1,656,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Investors Research Corp grew its position 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 worth $38,000 after purchasing an additional 408 shares in the last quarter. Plato Investment Management Ltd bought a new position in Coterra Energy during the fourth quarter valued at approximately $43,000. VSM Wealth Advisory LLC bought a new position in Coterra Energy during the fourth quarter valued at approximately $46,000. Nemes Rush Group LLC bought a new position in Coterra Energy during the fourth quarter valued at approximately $48,000. Finally, Optiver Holding B.V. bought a new position in Coterra Energy during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 87.92% of the company's stock.
Wall Street Analysts Forecast Growth
CTRA has been the subject of several analyst reports. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective 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 price objective 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. UBS Group lowered their price objective on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Mizuho lowered their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.30.
Check Out Our Latest Report on CTRA
Coterra Energy Price Performance
Shares of Coterra Energy stock traded down $0.33 on Friday, hitting $25.63. The company's stock had a trading volume of 9,627,311 shares, compared to its average volume of 6,488,321. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a fifty day moving average price of $25.20 and a 200-day moving average price of $26.41. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 0.35 and a beta of 0.34.
Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. Coterra Energy's quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal 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 given a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.43%. Coterra Energy's payout ratio is 51.16%.
Coterra Energy Company Profile
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Free Report)
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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