Erste Asset Management GmbH Sells 13,400 Shares of Coterra Energy Inc. $CTRA

Key Points

• Erste Asset Management GmbH reduced its stake in Coterra Energy Inc. by 1.5%, owning 886,600 shares worth approximately $25.61 million after selling 13,400 shares in the first quarter.
• Coterra Energy recently reported a quarterly earnings miss, with $0.48 earnings per share, falling short of the consensus estimate of $0.50.
• The company announced a quarterly dividend of $0.22, resulting in an annualized dividend yield of 3.8% for shareholders on record.

Erste Asset Management GmbH lessened its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 886,600 shares of the company's stock after selling 13,400 shares during the quarter. Erste Asset Management GmbH owned about 0.12% of Coterra Energy worth $25,613,000 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 CTRA. Wellington Management Group LLP raised its stake 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 valued at $2,416,939,000 after purchasing an additional 11,102,350 shares in the last quarter. Vanguard Group Inc. raised its stake in Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares in the last quarter. Pacer Advisors Inc. raised its stake in Coterra Energy by 5,145.4% in the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock valued at $89,592,000 after purchasing an additional 3,040,963 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Coterra Energy in the fourth quarter valued at about $57,877,000. Finally, Nuveen LLC acquired a new position in Coterra Energy in the first quarter valued at about $64,173,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on CTRA shares. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. UBS Group dropped their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 target price on shares of Coterra Energy in a research note on Tuesday, July 1st. Finally, Bank of America lowered their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.37.

Coterra Energy Trading Up 1.4%

Shares of NYSE:CTRA traded up $0.3350 during midday trading on Friday, hitting $23.7750. 4,496,978 shares of the stock were exchanged, compared to its average volume of 6,616,784. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 0.32 and a beta of 0.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The business's 50-day moving average price is $24.69 and its 200 day moving average price is $25.70. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share 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 the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business's revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. Analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, August 14th. Coterra Energy's payout ratio is 42.11%.

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.