Envestnet Asset Management Inc. Trims Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Envestnet Asset Management Inc. cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,731,906 shares of the company's stock after selling 85,469 shares during the period. Envestnet Asset Management Inc. owned 0.62% of Coterra Energy worth $136,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRA. Wayfinding Financial LLC purchased a new stake in shares of Coterra Energy in the first quarter worth approximately $34,000. Investors Research Corp raised its holdings in shares of Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after buying an additional 408 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Coterra Energy in the fourth quarter worth approximately $46,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Coterra Energy in the first quarter worth approximately $46,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Coterra Energy in the first quarter worth approximately $47,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.8%

NYSE CTRA traded up $0.20 during midday trading on Friday, hitting $25.30. 5,662,888 shares of the company traded hands, compared to its average volume of 6,543,390. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The company has a market cap of $19.31 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.35 and a beta of 0.35. The company's 50-day simple moving average is $25.18 and its 200-day simple moving average is $26.44. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The business's quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.22 dividend. 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 3.48%. Coterra Energy's payout ratio is 51.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CTRA shares. Morgan Stanley set a $28.00 price target on Coterra Energy in a report on Tuesday, April 15th. Wells Fargo & Company reduced their price objective on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Piper Sandler reduced their price objective on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.20.

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.