USS Investment Management Ltd Has $2.39 Million Stake in Coterra Energy Inc. $CTRA

Key Points

• USS Investment Management Ltd reduced its stake in Coterra Energy by 66.1%, now holding 82,718 shares valued at approximately $2.39 million.
• Coterra Energy has recently reported $0.48 EPS for the quarter, missing expectations, but saw a significant revenue increase of 54.6% year-over-year.
• The company announced a quarterly dividend of $0.22 per share, yielding an annualized 3.7% dividend based on current pricing.

USS Investment Management Ltd trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 66.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,718 shares of the company's stock after selling 161,600 shares during the period. USS Investment Management Ltd's holdings in Coterra Energy were worth $2,391,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Scientech Research LLC bought a new stake in Coterra Energy during the first quarter valued at about $660,000. Pingora Partners LLC boosted its holdings in Coterra Energy by 0.8% during the first quarter. Pingora Partners LLC now owns 139,041 shares of the company's stock valued at $4,018,000 after acquiring an additional 1,124 shares during the period. NFJ Investment Group LLC bought a new stake in Coterra Energy during the first quarter valued at about $14,614,000. Nissay Asset Management Corp Japan ADV boosted its holdings in Coterra Energy by 0.7% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 89,765 shares of the company's stock valued at $2,594,000 after acquiring an additional 591 shares during the period. Finally, Interval Partners LP boosted its holdings in Coterra Energy by 90.2% during the first quarter. Interval Partners LP now owns 278,034 shares of the company's stock valued at $8,035,000 after acquiring an additional 131,833 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTRA shares. 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 report on Thursday. Barclays upped their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Finally, Wells Fargo & Company upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.39.

Coterra Energy Price Performance

NYSE:CTRA traded down $0.01 during mid-day trading on Friday, hitting $24.36. The company's stock had a trading volume of 4,146,724 shares, compared to its average volume of 4,998,333. Coterra Energy Inc. has a fifty-two week low of $22.46 and a fifty-two week high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $18.59 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 0.34 and a beta of 0.34. The stock has a fifty day moving average of $24.14 and a 200-day moving average of $25.30.

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). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the company earned $0.37 EPS. The business's revenue for the quarter was up 54.6% on a year-over-year basis. As a group, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's dividend payout ratio is 42.11%.

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.