KBC Group NV Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

KBC Group NV lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,662 shares of the company's stock after selling 20,620 shares during the period. KBC Group NV's holdings in Coterra Energy were worth $2,129,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in Coterra Energy by 5,744.3% during the fourth 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 in the last quarter. Envestnet Asset Management Inc. boosted its position in Coterra Energy by 117.3% during the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Coterra Energy during the fourth quarter valued at about $61,461,000. Zurich Insurance Group Ltd FI bought a new stake in Coterra Energy during the fourth quarter valued at about $57,877,000. Finally, Man Group plc boosted its position in 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 purchasing an additional 2,172,931 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.16 during trading on Friday, hitting $25.19. The stock had a trading volume of 3,494,277 shares, compared to its average volume of 6,510,635. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $25.20 and a two-hundred day simple moving average of $26.42.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. Coterra Energy's quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. On average, equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio is currently 51.16%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CTRA shares. Mizuho dropped their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price target for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Susquehanna lowered their price target on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Bank of America lowered their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

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.