Coterra Energy Inc. $CTRA Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Coterra Energy Inc. by 6.1% in the first quarter, selling 62,942 shares and now owns 961,559 shares worth $27.78 million.
• Coterra Energy reported $0.48 earnings per share (EPS) for the last quarter, missing analysts' expectations, but achieved a revenue of $1.97 billion, up 54.6% year-over-year.
• The company recently declared a quarterly dividend of $0.22 per share, with an annualized yield of 3.7% and a payout ratio of 42.11%.

Russell Investments Group Ltd. decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 961,559 shares of the company's stock after selling 62,942 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Coterra Energy worth $27,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTRA. Vanguard Group Inc. lifted its position in Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares during the last quarter. Pacer Advisors Inc. lifted its position in Coterra Energy by 5,145.4% during the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock valued at $89,592,000 after purchasing an additional 3,040,963 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Coterra Energy during the fourth quarter valued at $57,877,000. Nuveen LLC bought a new position in Coterra Energy during the first quarter valued at $64,173,000. Finally, Man Group plc lifted its holdings in shares of Coterra Energy by 81.4% in the 4th quarter. Man Group plc now owns 4,842,621 shares of the company's stock worth $123,681,000 after acquiring an additional 2,172,931 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Up 0.5%

Shares of NYSE CTRA traded up $0.1250 during trading hours on Thursday, hitting $23.3550. 885,867 shares of the stock were exchanged, compared to its average volume of 7,054,511. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The company has a market cap of $17.82 billion, a PE ratio of 11.17, a PEG ratio of 0.31 and a beta of 0.33. The firm has a fifty day moving average price of $24.80 and a 200-day moving average price of $25.76. 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 data on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the firm earned $0.37 EPS. The company's revenue was up 54.6% compared to the same quarter last year. On average, sell-side analysts expect 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. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy's dividend payout ratio is presently 42.11%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CTRA shares. Raymond James Financial set a $38.00 target price on shares of Coterra Energy and gave the stock an "outperform" rating in a report on Friday, June 13th. Barclays boosted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Bank of America reduced their price target on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Scotiabank restated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $33.37.

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.