Hartree Partners LP Acquires 104,549 Shares of Coterra Energy Inc. $CTRA

Key Points

• Hartree Partners LP increased its stake in Coterra Energy Inc. by 47.5% in the first quarter, owning 324,549 shares valued at approximately $9.38 million, making it the firm's 11th largest position.
• Coterra Energy reported earnings per share of $0.48 for the quarter, missing estimates, but achieved revenue growth of 54.6% year-over-year at $1.97 billion.
• The company's quarterly dividend of $0.22 per share will be paid on August 28th, representing an annualized yield of 3.7% with a payout ratio of 42.11%.

Hartree Partners LP boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 47.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 324,549 shares of the company's stock after acquiring an additional 104,549 shares during the quarter. Coterra Energy comprises about 3.4% of Hartree Partners LP's investment portfolio, making the stock its 11th biggest position. Hartree Partners LP's holdings in Coterra Energy were worth $9,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Coterra Energy by 15.3% during the 1st 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 during the last quarter. Vanguard Group Inc. grew its holdings in Coterra Energy by 4.3% during the 1st 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 during the last quarter. Pacer Advisors Inc. grew its holdings in Coterra Energy by 5,145.4% during the 1st 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 during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Coterra Energy during the 4th quarter valued at about $57,877,000. Finally, Nuveen LLC bought a new position in Coterra Energy during the 1st quarter valued at about $64,173,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Up 0.9%

CTRA stock traded up $0.22 during mid-day trading on Wednesday, reaching $24.12. The company had a trading volume of 5,808,556 shares, compared to its average volume of 7,041,081. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a 50 day moving average of $24.58 and a 200 day moving average of $25.64. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a market capitalization of $18.40 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the business posted $0.37 earnings per share. Coterra Energy's revenue for the quarter was up 54.6% on a year-over-year basis. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Piper Sandler upped their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. UBS Group cut their price target 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. Mizuho cut their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average price target of $33.61.

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.