Robeco Institutional Asset Management B.V. Sells 121,165 Shares of Coterra Energy Inc. $CTRA

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Coterra Energy Inc. by 23.3%, owning approximately 399,400 shares valued at $10.1 million after selling 121,165 shares.
• The company reported a 54.6% year-on-year increase in quarterly revenue, totaling $1.97 billion, despite earnings per share of $0.48 missing estimates.
• Coterra Energy announced a quarterly dividend of $0.22 per share, representing a yield of 3.8% with a payout ratio of 42.11%.

Robeco Institutional Asset Management B.V. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 23.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 399,400 shares of the company's stock after selling 121,165 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Coterra Energy worth $10,137,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its holdings in shares of Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after buying an additional 737 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Coterra Energy during the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Coterra Energy during the first quarter worth approximately $34,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Coterra Energy during the first quarter worth approximately $46,000. Institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Up 0.6%

NYSE CTRA opened at $23.30 on Monday. Coterra Energy Inc. has a 1 year low of $22.46 and a 1 year high of $29.95. The stock has a market capitalization of $17.78 billion, a PE ratio of 11.15, a PEG ratio of 0.33 and a beta of 0.29. 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 business's 50-day moving average is $23.93 and its 200 day moving average is $24.93.

Coterra Energy (NYSE:CTRA - Get Free Report) last released 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 business had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company's quarterly revenue was up 54.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's payout ratio is presently 42.11%.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent research reports. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Raymond James Financial restated an "outperform" rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Barclays increased their target price on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Coterra Energy in a research note on Saturday, September 27th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.22.

About Coterra Energy

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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