Voleon Capital Management LP Trims Stock Position in Coterra Energy Inc. $CTRA

Key Points

• Voleon Capital Management LP has significantly reduced its stake in Coterra Energy Inc. by 73.8%, selling 31,148 shares and leaving it with 11,069 shares valued at approximately $320,000.
• Coterra Energy reported a net margin of 23.80% and quarterly revenue of $1.97 billion, exceeding analyst estimates, despite missing the EPS estimate by $0.02.
• The company declared a quarterly dividend of $0.22 per share, resulting in an annualized dividend yield of 3.7%.

Voleon Capital Management LP lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 73.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,069 shares of the company's stock after selling 31,148 shares during the period. Voleon Capital Management LP's holdings in Coterra Energy were worth $320,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CTRA. Cornerstone Planning Group LLC increased its stake in shares of Coterra Energy by 175.6% in the first 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 position in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after acquiring an additional 737 shares during the period. Banque Cantonale Vaudoise bought a new stake in Coterra Energy during the first quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new stake in Coterra Energy during the first quarter valued at approximately $34,000. Finally, Investors Research Corp lifted its position in Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Down 0.0%

Shares of NYSE CTRA traded down $0.01 during mid-day trading on Friday, hitting $24.36. The stock had a trading volume of 4,146,724 shares, compared to its average volume of 5,107,425. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a 1 year low of $22.46 and a 1 year high of $29.95. The business has a 50 day moving average price of $24.14 and a two-hundred day moving average price of $25.31. The firm has a market cap of $18.59 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm's quarterly revenue was up 54.6% compared to the same quarter last year. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal 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 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's payout ratio is presently 42.11%.

Analyst Ratings Changes

Several research analysts have commented on CTRA shares. Scotiabank reissued an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Raymond James Financial reissued an "outperform" rating and set a $34.00 price target (down from $38.00) on shares of Coterra Energy in a research note on Thursday. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Finally, Piper Sandler lifted their price target 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. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and an average price target of $33.39.

Coterra Energy 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.