Vest Financial LLC Reduces Stock Position in Coterra Energy Inc. $CTRA

Key Points

• Vest Financial LLC has significantly reduced its stake in Coterra Energy Inc. by 79.2%, now holding 83,632 shares valued at approximately $2.12 million.
• Coterra Energy recently reported quarterly earnings, with earnings per share of $0.48, missing estimates by $0.02, although revenue surged by 54.6% year-over-year to $1.97 billion.
• As of now, the consensus rating for Coterra Energy is a "Moderate Buy" from analysts, with a target price averaging around $32.95.

Vest Financial LLC cut its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 79.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,632 shares of the company's stock after selling 317,899 shares during the period. Vest Financial LLC's holdings in Coterra Energy were worth $2,123,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Yousif Capital Management LLC increased its holdings in Coterra Energy by 3.1% in the second quarter. Yousif Capital Management LLC now owns 93,981 shares of the company's stock valued at $2,385,000 after buying an additional 2,806 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Coterra Energy by 236.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 413,403 shares of the company's stock worth $10,372,000 after purchasing an additional 290,349 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Coterra Energy by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 102,344 shares of the company's stock worth $2,599,000 after purchasing an additional 4,945 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Coterra Energy by 73.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,042 shares of the company's stock worth $331,000 after purchasing an additional 5,517 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Coterra Energy by 5.3% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company's stock worth $267,000 after purchasing an additional 533 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.2%

Shares of CTRA opened at $23.23 on Wednesday. The firm has a market cap of $17.72 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 0.33 and a beta of 0.29. The company's fifty day moving average is $23.87 and its two-hundred day moving average is $24.70. 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 quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. Analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. UBS Group dropped their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday. Piper Sandler raised their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Morgan Stanley decreased their target price on shares of Coterra Energy from $29.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Fifteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus target price of $32.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.