Harbor Investment Advisory LLC Decreases Stake in Coterra Energy Inc. $CTRA

Key Points

• Harbor Investment Advisory LLC significantly reduced its stake in Coterra Energy Inc. by 77.8%, holding only 3,933 shares after selling 13,789 shares in the second quarter.
• Coterra Energy reported earnings per share (EPS) of $0.48 for the quarter, missing analysts' consensus estimate of $0.50, but its revenue was up 54.6% year-over-year at $1.97 billion.
• The company declared a $0.22 quarterly dividend, representing an annualized yield of 3.6%, with a payout ratio of 42.11% as of August 14th.

Harbor Investment Advisory LLC lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 77.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,933 shares of the company's stock after selling 13,789 shares during the quarter. Harbor Investment Advisory LLC's holdings in Coterra Energy were worth $100,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Voya Investment Management LLC grew its holdings in shares of Coterra Energy by 75.7% during the 1st quarter. Voya Investment Management LLC now owns 1,349,693 shares of the company's stock worth $39,006,000 after purchasing an additional 581,612 shares during the period. Inspire Investing LLC grew its holdings in shares of Coterra Energy by 7.8% during the 1st quarter. Inspire Investing LLC now owns 11,096 shares of the company's stock worth $321,000 after purchasing an additional 804 shares during the period. Strs Ohio purchased a new stake in shares of Coterra Energy during the 1st quarter worth about $1,600,000. Geneos Wealth Management Inc. grew its holdings in shares of Coterra Energy by 29.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,417 shares of the company's stock worth $185,000 after purchasing an additional 1,449 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of Coterra Energy by 16.2% during the 1st quarter. Focus Partners Wealth now owns 712,564 shares of the company's stock worth $20,593,000 after purchasing an additional 99,558 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.36 on Monday. The business's 50 day moving average is $24.14 and its two-hundred day moving average is $25.30. Coterra Energy Inc. has a 52-week low of $22.46 and a 52-week high of $29.95. The firm has a market cap of $18.59 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.34 and a beta of 0.34. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company earned $0.37 earnings per share. The business's revenue for the quarter was up 54.6% on a year-over-year basis. Analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy's payout ratio is 42.11%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTRA shares. Pickering Energy Partners lowered Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Raymond James Financial reissued an "outperform" rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research report on Thursday. Barclays boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, July 1st. Finally, Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.39.

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.

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