Coterra Energy Inc. $CTRA Position Reduced by Ieq Capital LLC

Key Points

• Ieq Capital LLC has reduced its stake in Coterra Energy Inc. by 5.7%, selling 14,586 shares and holding 240,532 shares worth approximately $6.95 million post-sale.
• Multiple institutional investors have increased their stakes, with Cornerstone Planning Group LLC raising its investment by 175.6%, leading to a growing ownership of 87.92% among institutional investors in Coterra Energy.
• Coterra Energy recently declared a $0.22 quarterly dividend, reflecting an annualized dividend yield of 3.6%, and reported revenues of $1.97 billion for the last quarter, exceeding analysts' expectations.

Ieq Capital LLC decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,532 shares of the company's stock after selling 14,586 shares during the period. Ieq Capital LLC's holdings in Coterra Energy were worth $6,951,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CTRA. Price T Rowe Associates Inc. MD increased its stake in Coterra Energy by 0.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,419,146 shares of the company's stock valued at $36,246,000 after purchasing an additional 10,072 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Coterra Energy by 36.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 20,338 shares of the company's stock worth $519,000 after acquiring an additional 5,396 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Coterra Energy by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 708,873 shares of the company's stock worth $18,105,000 after acquiring an additional 10,187 shares during the last quarter. Northern Trust Corp grew its position in shares of Coterra Energy by 7.0% during the fourth quarter. Northern Trust Corp now owns 8,777,764 shares of the company's stock worth $224,184,000 after acquiring an additional 571,193 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Coterra Energy by 20.7% during the fourth quarter. AQR Capital Management LLC now owns 3,363,838 shares of the company's stock worth $85,912,000 after acquiring an additional 577,870 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

NYSE CTRA traded up $0.06 on Friday, reaching $24.44. The company's stock had a trading volume of 3,605,307 shares, compared to its average volume of 6,204,016. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. 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 stock has a market cap of $18.65 billion, a PE ratio of 11.69, a PEG ratio of 0.33 and a beta of 0.34. The firm's 50 day moving average is $24.43 and its two-hundred day moving average is $25.54.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share 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 posted $0.37 earnings per share. Coterra Energy's revenue was up 54.6% compared to the same quarter last year. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus 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.