Energy Income Partners LLC Reduces Stock Holdings in Coterra Energy Inc. $CTRA

Key Points

• Energy Income Partners LLC has reduced its holdings in Coterra Energy Inc. by 6.6%, now owning 184,240 shares worth approximately $5.32 million.
• Analysts have mixed views on Coterra Energy, with Piper Sandler and Barclays assigning it an "overweight" rating and increasing their price targets, while Pickering Energy Partners downgraded it to "neutral."
• Coterra Energy recently reported earnings of $0.48 per share, missing estimates but showing a 54.6% year-over-year revenue increase, alongside an announced dividend of $0.22 per share.

Energy Income Partners LLC decreased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,240 shares of the company's stock after selling 13,027 shares during the quarter. Energy Income Partners LLC's holdings in Coterra Energy were worth $5,325,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Coterra Energy by 4.3% in 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 increased its position in Coterra Energy by 15.3% in 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. increased its position in Coterra Energy by 7.8% in 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. increased its position in Coterra Energy by 5.7% in 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. increased its position in Coterra Energy by 1.2% in 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. Institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Up 1.3%

Shares of CTRA stock traded up $0.32 on Thursday, reaching $24.39. 4,770,765 shares of the company's stock were exchanged, compared to its average volume of 6,964,446. The company's fifty day simple moving average is $24.30 and its 200 day simple moving average is $25.50. The stock has a market capitalization of $18.61 billion, a PE ratio of 11.67, a P/E/G ratio of 0.33 and a beta of 0.34. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29.

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

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Analyst Ratings Changes

Several analysts recently issued reports on CTRA shares. UBS Group cut their target price on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Piper Sandler increased their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Finally, Pickering Energy Partners lowered Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and an average price target of $33.61.

Coterra Energy Company 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.