Evergreen Capital Management LLC Sells 176,645 Shares of Coterra Energy Inc. $CTRA

Key Points

• Evergreen Capital Management LLC reduced its holdings in Coterra Energy by 50.2%, selling 176,645 shares and now owns 175,241 shares valued at approximately $5.06 million.
• Other institutional investors, including Allspring Global Investments and Janney Montgomery Scott, have increased their stakes in Coterra Energy, indicating strong interest from various financial entities.
• Coterra Energy reported $0.48 EPS for the last quarter, missing analyst estimates, but had a revenue of $1.97 billion, surpassing expectations and showing a 54.6% year-over-year increase.

Evergreen Capital Management LLC lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 50.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,241 shares of the company's stock after selling 176,645 shares during the period. Evergreen Capital Management LLC's holdings in Coterra Energy were worth $5,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. Cornerstone Planning Group LLC increased its position in shares of Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after acquiring an additional 555 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Coterra Energy in the first quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in Coterra Energy in the first quarter worth approximately $34,000. Finally, Investors Research Corp boosted its holdings in 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 purchasing an additional 408 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of CTRA stock traded up $0.26 on Thursday, hitting $24.33. 1,380,355 shares of the stock traded hands, compared to its average volume of 6,951,908. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.33 and a beta of 0.34. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a 50 day simple moving average of $24.30 and a two-hundred day simple moving average of $25.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS 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 net margin of 23.80% and a return on equity of 10.99%. The firm's revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Analyst Ratings Changes

CTRA has been the topic of several research reports. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Barclays raised their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. UBS Group dropped their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Mizuho dropped their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.61.

About Coterra Energy

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.