Hourglass Capital LLC Has $733,000 Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Hourglass Capital LLC lowered its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 45.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,350 shares of the company's stock after selling 21,000 shares during the period. Hourglass Capital LLC's holdings in Coterra Energy were worth $733,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its holdings in shares of Coterra Energy by 5,744.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after purchasing an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. lifted its stake in Coterra Energy by 117.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock valued at $123,036,000 after purchasing an additional 2,600,801 shares during the last quarter. Raymond James Financial Inc. bought a new position in Coterra Energy in the 4th quarter valued at approximately $61,461,000. Zurich Insurance Group Ltd FI bought a new position in shares of Coterra Energy during the fourth quarter valued at $57,877,000. Finally, Man Group plc raised its stake in shares of Coterra Energy by 81.4% during the fourth quarter. Man Group plc now owns 4,842,621 shares of the company's stock valued at $123,681,000 after acquiring an additional 2,172,931 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Down 1.5%

NYSE CTRA opened at $24.83 on Tuesday. The firm has a market cap of $18.95 billion, a PE ratio of 14.44, a P/E/G ratio of 0.34 and a beta of 0.35. The firm's fifty day moving average is $25.18 and its two-hundred day moving average is $26.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The firm 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 firm's revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, May 15th. Coterra Energy's payout ratio is currently 51.16%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CTRA shares. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. 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. Susquehanna dropped their target price on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Finally, Mizuho lowered their target price on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Four 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.10.

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.

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