Rafferty Asset Management LLC lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 20.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 337,205 shares of the company's stock after selling 87,706 shares during the period. Rafferty Asset Management LLC's holdings in Coterra Energy were worth $9,745,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its stake in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. raised its stake in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise purchased a new position in Coterra Energy during the first quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new position in Coterra Energy during the first quarter worth approximately $34,000. Finally, Investors Research Corp raised 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 purchasing an additional 408 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.
Coterra Energy Trading Up 1.1%
CTRA opened at $24.72 on Wednesday. The stock has a market capitalization of $18.87 billion, a PE ratio of 11.83, a P/E/G ratio of 0.33 and a beta of 0.34. The firm's fifty day moving average price is $24.34 and its 200 day moving average price is $25.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.
Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company's revenue was up 54.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.
Coterra Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given 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 was Thursday, August 14th. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.
Analyst Ratings Changes
Several research firms have recently issued reports on CTRA. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Mizuho dropped their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Finally, Barclays increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.61.
Read Our Latest Stock Report on Coterra Energy
About Coterra Energy
(
Free Report)
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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