Leeward Investments LLC MA Reduces Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Leeward Investments LLC MA lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 344,217 shares of the company's stock after selling 12,042 shares during the quarter. Leeward Investments LLC MA's holdings in Coterra Energy were worth $9,948,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CTRA. Sterling Capital Management LLC boosted its stake in shares of 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 acquiring an additional 3,599,042 shares during 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 worth $123,036,000 after acquiring an additional 2,600,801 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Coterra Energy during the fourth quarter worth approximately $61,461,000. Zurich Insurance Group Ltd FI acquired a new stake in Coterra Energy during the fourth quarter worth approximately $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 worth $123,681,000 after acquiring an additional 2,172,931 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Wall Street Analyst Weigh In

CTRA has been the topic of several analyst reports. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Piper Sandler decreased their price target on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Wells Fargo & Company decreased their target price on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Finally, Raymond James Financial set a $38.00 target price on Coterra Energy and gave the company an "outperform" rating in a report on Friday, June 13th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Coterra Energy Stock Up 0.6%

Shares of NYSE:CTRA traded up $0.16 during mid-day trading on Friday, hitting $25.19. 3,494,277 shares of the company traded hands, compared to its average volume of 6,510,635. The firm has a market cap of $19.22 billion, a P/E ratio of 14.64, a PEG ratio of 0.34 and a beta of 0.35. 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 52-week low of $22.30 and a 52-week high of $29.95. The firm's 50 day simple moving average is $25.20 and its 200 day simple moving average is $26.42.

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

Coterra Energy Announces Dividend

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

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.