Voleon Capital Management LP Sells 31,148 Shares of 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 cut its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 73.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,069 shares of the company's stock after selling 31,148 shares during the quarter. Voleon Capital Management LP's holdings in Coterra Energy were worth $320,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Donald L. Hagan LLC grew its position in shares of Coterra Energy by 1.1% in the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock valued at $1,033,000 after purchasing an additional 401 shares in the last quarter. Investors Research Corp grew 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 worth $38,000 after buying an additional 408 shares in the last quarter. Saxon Interests Inc. grew its position in Coterra Energy by 5.1% during the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock worth $269,000 after buying an additional 451 shares in the last quarter. Tectonic Advisors LLC grew its position in Coterra Energy by 3.2% during the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock worth $429,000 after buying an additional 459 shares in the last quarter. Finally, Procyon Advisors LLC grew its position in Coterra Energy by 3.6% during the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after buying an additional 469 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Barclays boosted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Piper Sandler boosted their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Mizuho cut their price objective on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating for the company in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus target price of $33.22.

Coterra Energy Trading Down 0.4%

Shares of NYSE CTRA traded down $0.11 during midday trading on Monday, reaching $24.26. The company had a trading volume of 1,225,215 shares, compared to its average volume of 6,874,835. Coterra Energy Inc. has a one year low of $22.46 and a one year 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. The firm's fifty day moving average price is $24.14 and its 200-day moving average price is $25.30. The stock has a market cap of $18.51 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its 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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the firm posted $0.37 EPS. The company's revenue was up 54.6% on a year-over-year basis. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. Coterra Energy's dividend payout ratio is presently 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.