Oppenheimer & Co. Inc. Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Oppenheimer & Co. Inc. reduced its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 65.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,578 shares of the company's stock after selling 42,820 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Coterra Energy were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Investors Research Corp grew its position 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. Plato Investment Management Ltd purchased a new position in Coterra Energy during the fourth quarter worth about $43,000. VSM Wealth Advisory LLC purchased a new position in Coterra Energy during the fourth quarter worth about $46,000. Nemes Rush Group LLC purchased a new position in Coterra Energy during the fourth quarter worth about $48,000. Finally, Optiver Holding B.V. purchased a new position in Coterra Energy during the fourth quarter worth about $50,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.6%

Shares of CTRA stock traded up $0.16 during midday trading on Friday, reaching $25.19. 3,494,277 shares of the stock were exchanged, compared to its average volume of 6,514,172. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company's 50 day moving average is $25.20 and its two-hundred day moving average is $26.40. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $19.22 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

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

Coterra Energy Announces Dividend

The company also recently announced 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. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.49%. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Susquehanna dropped their price target on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. UBS Group dropped their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Barclays dropped their price target on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Mizuho dropped their price target on 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, Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Four 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.00.

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.