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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Coterra Energy during the 4th quarter worth approximately $3,624,000. PNC Financial Services Group Inc. grew its holdings in Coterra Energy by 4.9% in 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 during the period. Larson Financial Group LLC increased its stake in Coterra Energy by 247.7% in the fourth quarter. Larson Financial Group LLC now owns 3,345 shares of the company's stock valued at $85,000 after purchasing an additional 2,383 shares in the last quarter. AlphaQuest LLC raised its holdings 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 valued at $652,000 after purchasing an additional 25,524 shares during the period. Finally, Simplicity Wealth LLC bought a new position in shares of Coterra Energy during the 4th quarter worth about $216,000. Institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group decreased their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, Bank of America lowered their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $33.10.

Coterra Energy Trading Down 0.1%

Shares of NYSE CTRA traded down $0.04 during midday trading on Thursday, hitting $25.11. 5,184,656 shares of the company traded hands, compared to its average volume of 6,528,080. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market cap of $19.16 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.35 and a beta of 0.35. The stock has a 50-day moving average price of $25.19 and a 200 day moving average price of $26.43. 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 (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The firm had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The business's revenue was up 32.9% compared to the same quarter last year. As a group, analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared 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 3.51%. Coterra Energy's dividend payout ratio is currently 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.