Sound Shore Management Inc. CT Has $113.39 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Sound Shore Management Inc. CT reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,923,633 shares of the company's stock after selling 18,209 shares during the period. Coterra Energy makes up 4.0% of Sound Shore Management Inc. CT's investment portfolio, making the stock its largest holding. Sound Shore Management Inc. CT owned about 0.51% of Coterra Energy worth $113,393,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Cadence Wealth Management LLC raised its stake in shares of Coterra Energy by 7.3% in the 1st quarter. Cadence Wealth Management LLC now owns 12,751 shares of the company's stock valued at $369,000 after purchasing an additional 871 shares in the last quarter. Lifeworks Advisors LLC acquired a new stake in shares of Coterra Energy in the first quarter valued at $212,000. Argonautica Private Wealth Management Inc. grew its position in Coterra Energy by 4.0% in the first quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company's stock worth $355,000 after buying an additional 477 shares during the last quarter. AE Wealth Management LLC purchased a new position in shares of Coterra Energy in the first quarter worth approximately $248,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Coterra Energy in the 1st quarter worth about $391,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler restated an "overweight" rating and issued a $37.00 price objective (up previously from $36.00) on shares of Coterra Energy in a report on Thursday, July 17th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. UBS Group dropped their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Mizuho dropped their price target 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. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.16.

Coterra Energy Stock Up 0.2%

Shares of CTRA traded up $0.05 during trading hours on Monday, reaching $23.68. 1,765,082 shares of the stock traded hands, compared to its average volume of 7,072,903. 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 stock has a fifty day simple moving average of $25.18 and a 200 day simple moving average of $26.33. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a market cap of $18.07 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.32 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted $0.51 EPS. The firm's revenue for the quarter was up 32.9% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio is 51.16%.

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.