Mediolanum International Funds Ltd Sells 13,102 Shares of Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Coterra Energy by 23.6% during Q1, selling 13,102 shares and holding 42,466 shares post-sale, valued at approximately $1.216 million.
• Barclays raised Coterra Energy's price target from $35.00 to $37.00, with a majority of analysts rating the stock as a "Moderate Buy", reflecting optimism in its performance.
• Coterra Energy announced a quarterly dividend of $0.22 per share, resulting in an annualized dividend yield of 3.64%, with a dividend payout ratio of 51.16%.

Mediolanum International Funds Ltd lessened its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 23.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,466 shares of the company's stock after selling 13,102 shares during the quarter. Mediolanum International Funds Ltd's holdings in Coterra Energy were worth $1,216,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Coterra Energy by 63.5% during the fourth quarter. LPL Financial LLC now owns 664,401 shares of the company's stock valued at $16,969,000 after acquiring an additional 258,114 shares during the last quarter. Korea Investment CORP increased its holdings in Coterra Energy by 88.0% in the fourth quarter. Korea Investment CORP now owns 623,516 shares of the company's stock valued at $15,925,000 after purchasing an additional 291,809 shares during the period. Blair William & Co. IL raised its position in Coterra Energy by 4.1% during the 4th quarter. Blair William & Co. IL now owns 30,487 shares of the company's stock worth $779,000 after purchasing an additional 1,187 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Coterra Energy by 16.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 104,325 shares of the company's stock worth $2,664,000 after buying an additional 14,894 shares during the period. Finally, DnB Asset Management AS grew its position in shares of Coterra Energy by 1.2% in the 4th quarter. DnB Asset Management AS now owns 141,423 shares of the company's stock valued at $3,612,000 after buying an additional 1,659 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CTRA shares. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, July 1st. Wells Fargo & Company dropped their price target 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. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Mizuho lowered their target price on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.16.

Coterra Energy Stock Down 2.8%

Shares of NYSE:CTRA traded down $0.68 during trading on Friday, reaching $23.71. 3,010,406 shares of the stock were exchanged, compared to its average volume of 7,091,057. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The stock has a fifty day moving average of $25.15 and a two-hundred day moving average of $26.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.33 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 business's revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. Research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's payout ratio is currently 51.16%.

About Coterra Energy

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.