Price T Rowe Associates Inc. MD Sells 17,457 Shares of Coterra Energy Inc. $CTRA

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Coterra Energy Inc. by 1.2%, selling 17,457 shares and retaining approximately 1.4 million shares valued at around $40.5 million.
• Coterra Energy recently reported a quarterly EPS of $0.48, which was below analysts' estimates, while its revenue increased by 54.6% year-over-year, reaching $1.97 billion.
• The company declared a quarterly dividend of $0.22 per share, which represents an annualized yield of 3.6%, with an ex-dividend date of August 14th.

Price T Rowe Associates Inc. MD cut its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,401,689 shares of the company's stock after selling 17,457 shares during the period. Price T Rowe Associates Inc. MD owned about 0.18% of Coterra Energy worth $40,509,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Donald L. Hagan LLC grew its holdings in shares of Coterra Energy by 1.1% in the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock valued at $1,033,000 after acquiring an additional 401 shares in the last quarter. Investors Research Corp grew its holdings in shares of Coterra Energy by 45.2% in the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after acquiring an additional 408 shares in the last quarter. Saxon Interests Inc. grew its holdings in shares of Coterra Energy by 5.1% in the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after acquiring an additional 451 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of Coterra Energy by 3.2% in the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock valued at $429,000 after acquiring an additional 459 shares in the last quarter. Finally, Procyon Advisors LLC grew its holdings in shares of Coterra Energy by 3.6% in the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock valued at $389,000 after acquiring an additional 469 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Price Performance

Coterra Energy stock opened at $24.12 on Thursday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The business has a fifty day moving average price of $24.53 and a 200-day moving average price of $25.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a market capitalization of $18.40 billion, a P/E ratio of 11.54, a PEG ratio of 0.32 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $0.37 earnings per share. Coterra Energy's revenue was up 54.6% on a year-over-year basis. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group dropped their price objective on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the company an "outperform" rating in a report on Friday, June 13th. Piper Sandler increased their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Barclays increased their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Mizuho reduced their price objective on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.61.

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.

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