Coterra Energy Inc. $CTRA Shares Sold by National Pension Service

Key Points

• The National Pension Service has reduced its stake in Coterra Energy Inc. by 5.1%, now holding approximately 1.27 million shares valued at $36.8 million.
• Coterra Energy posted a quarterly EPS of $0.48, missing analyst expectations, but achieving revenue growth of 54.6% year-over-year, totaling $1.97 billion.
• The company recently announced a quarterly dividend of $0.22, representing an annual yield of 3.7%.

National Pension Service decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,274,692 shares of the company's stock after selling 68,045 shares during the quarter. National Pension Service owned about 0.17% of Coterra Energy worth $36,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock valued at $2,668,559,000 after buying an additional 3,818,700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Coterra Energy by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company's stock valued at $731,313,000 after buying an additional 1,837,614 shares during the period. Victory Capital Management Inc. raised its stake in shares of Coterra Energy by 5.7% in the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company's stock valued at $544,149,000 after buying an additional 1,019,995 shares during the period. Invesco Ltd. raised its stake in shares of Coterra Energy by 1.2% during the 1st quarter. Invesco Ltd. now owns 12,384,728 shares of the company's stock valued at $357,919,000 after purchasing an additional 152,244 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Coterra Energy by 7.0% during the 4th quarter. Northern Trust Corp now owns 8,777,764 shares of the company's stock valued at $224,184,000 after purchasing an additional 571,193 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Up 0.5%

Shares of CTRA stock traded up $0.1250 on Thursday, reaching $23.3550. 885,867 shares of the stock were exchanged, compared to its average volume of 7,054,511. The stock has a market cap of $17.82 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.31 and a beta of 0.33. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $24.80 and a two-hundred day moving average of $25.76. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company's quarterly revenue was up 54.6% on a year-over-year basis. On average, research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy's dividend payout ratio (DPR) is currently 42.11%.

Analysts Set New Price Targets

CTRA has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Bank of America dropped their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. UBS Group lowered their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Raymond James Financial set a $38.00 target price on Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.37.

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.