Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,731,906 shares of the company's stock after selling 85,469 shares during the quarter. Envestnet Asset Management Inc. owned about 0.62% of Coterra Energy worth $136,752,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in Coterra Energy in the fourth quarter valued at $3,624,000. PNC Financial Services Group Inc. lifted its stake in shares of Coterra Energy by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 316,044 shares of the company's stock worth $8,072,000 after purchasing an additional 14,669 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Coterra Energy by 247.7% during the fourth quarter. Larson Financial Group LLC now owns 3,345 shares of the company's stock worth $85,000 after purchasing an additional 2,383 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Coterra Energy by 116,018.2% during the fourth quarter. AlphaQuest LLC now owns 25,546 shares of the company's stock worth $652,000 after purchasing an additional 25,524 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new position in shares of Coterra Energy during the fourth quarter worth about $216,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group reduced their price objective on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Morgan Stanley set a $28.00 target price on Coterra Energy in a research report on Tuesday, April 15th. Bank of America dropped their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Raymond James Financial set a $38.00 target price on Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Susquehanna dropped their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus price target of $33.20.

Coterra Energy Stock Performance

CTRA stock traded up $0.20 on Friday, reaching $25.30. The company's stock had a trading volume of 5,662,888 shares, compared to its average volume of 6,554,627. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a market capitalization of $19.31 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.35 and a beta of 0.35. The firm has a fifty day moving average of $25.18 and a two-hundred day moving average of $26.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company posted $0.51 EPS. The business's revenue for the quarter was up 32.9% compared to the same quarter last year. As a group, analysts predict that Coterra Energy Inc. will post 1.54 EPS 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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Coterra Energy 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.