Equity Investment Corp Sells 122,400 Shares of Coterra Energy Inc. (NYSE:CTRA)

Equity Investment Corp lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,616,023 shares of the company's stock after selling 122,400 shares during the period. Coterra Energy comprises about 2.3% of Equity Investment Corp's investment portfolio, making the stock its 20th biggest holding. Equity Investment Corp owned 0.47% of Coterra Energy worth $104,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new stake in shares of Coterra Energy in the 4th quarter valued at $942,000. State of Tennessee Department of Treasury lifted its stake in shares of Coterra Energy by 7.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock valued at $12,075,000 after purchasing an additional 31,425 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Coterra Energy in the 4th quarter valued at $641,000. Intech Investment Management LLC lifted its stake in shares of Coterra Energy by 56.7% in the 4th quarter. Intech Investment Management LLC now owns 67,858 shares of the company's stock valued at $1,733,000 after purchasing an additional 24,560 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after purchasing an additional 8,726 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.01 on Friday, hitting $24.46. 2,726,946 shares of the company were exchanged, compared to its average volume of 6,540,821. The company's 50 day moving average price is $25.28 and its two-hundred day moving average price is $26.44. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a market capitalization of $18.67 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.33 and a beta of 0.35.

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 (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business's revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.60%. Coterra Energy's payout ratio is currently 51.16%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CTRA shares. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Susquehanna reduced their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. UBS Group reduced their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Mizuho cut their target price on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Four 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.25.

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.