Yaupon Capital Management LP Lowers Position in Coterra Energy Inc. $CTRA

Key Points

• Yaupon Capital Management LP reduced its investment in Coterra Energy (CTRA) by 34.1%, now holding $24.81 million worth of shares, representing 1.3% of its portfolio.
• Coterra Energy reported a quarterly earnings miss, with earnings per share of $0.48, falling short of the estimated $0.50, while also experiencing a significant revenue increase of 54.6% year-over-year.
• The company's stock has an average analyst rating of "Moderate Buy" with a current price target of $33.61, reflecting positive sentiment despite recent challenges.

Yaupon Capital Management LP reduced its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 34.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 858,520 shares of the company's stock after selling 443,619 shares during the period. Coterra Energy accounts for about 1.3% of Yaupon Capital Management LP's investment portfolio, making the stock its 24th largest holding. Yaupon Capital Management LP owned about 0.11% of Coterra Energy worth $24,811,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after acquiring an additional 555 shares during the period. Raleigh Capital Management Inc. raised its holdings in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after buying an additional 737 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Coterra Energy in the first quarter worth about $29,000. Wayfinding Financial LLC purchased a new position in Coterra Energy in the first quarter worth about $34,000. Finally, Investors Research Corp raised its holdings in Coterra Energy by 45.2% in 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 during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Raymond James Financial reaffirmed an "outperform" rating and issued a $34.00 target price (down from $38.00) on shares of Coterra Energy in a report on Thursday. Piper Sandler lifted their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Barclays lifted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.39.

Coterra Energy Stock Performance

NYSE CTRA traded down $0.01 during trading hours on Friday, hitting $24.36. 4,146,724 shares of the company's stock traded hands, compared to its average volume of 5,107,425. The business's fifty day moving average price is $24.14 and its two-hundred day moving average price is $25.30. 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 firm has a market capitalization of $18.59 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a 52 week low of $22.46 and a 52 week high of $29.95.

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

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. 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.