Nippon Life Global Investors Americas Inc. Sells 19,450 Shares of Coterra Energy Inc. $CTRA

Key Points

• Nippon Life Global Investors Americas Inc. reduced its stake in Coterra Energy by 59.9%, holding $377,000 in Coterra at the end of the last reporting period.
• Coterra Energy reported an EPS of $0.48, missing estimates while achieving a 54.6% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.22, reflecting an annualized yield of 3.6% and a payout ratio of 42.11%.

Nippon Life Global Investors Americas Inc. lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 59.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,030 shares of the company's stock after selling 19,450 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in Coterra Energy were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Donald L. Hagan LLC boosted its stake in Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after buying an additional 401 shares in the last quarter. Investors Research Corp boosted its stake in Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after buying an additional 408 shares in the last quarter. Saxon Interests Inc. boosted its stake in shares of Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after purchasing an additional 451 shares in the last quarter. Tectonic Advisors LLC boosted its stake in shares of Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock valued at $429,000 after purchasing an additional 459 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in shares of Coterra Energy by 3.6% in the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock valued at $389,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CTRA shares. Barclays boosted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Mizuho reduced their target price on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Wells Fargo & Company lifted their price target on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Piper Sandler lifted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.61.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded up $0.34 during trading on Wednesday, reaching $24.19. The company's stock had a trading volume of 2,032,194 shares, compared to its average volume of 6,916,216. The stock has a 50-day moving average price of $24.18 and a two-hundred day moving average price of $25.37. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock has a market capitalization of $18.46 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.32 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, sell-side analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

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

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.