Yaupon Capital Management LP Reduces Holdings 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 decreased its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 858,520 shares of the company's stock after selling 443,619 shares during the quarter. Coterra Energy comprises 1.3% of Yaupon Capital Management LP's investment portfolio, making the stock its 24th largest holding. Yaupon Capital Management LP owned 0.11% of Coterra Energy worth $24,811,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CTRA. Cornerstone Planning Group LLC raised 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 worth $25,000 after buying an additional 555 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Coterra Energy during the 1st quarter worth $29,000. Wayfinding Financial LLC acquired a new position in shares of Coterra Energy during the 1st quarter worth $34,000. Finally, Investors Research Corp grew its stake in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after purchasing an additional 408 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CTRA shares. The Goldman Sachs Group reaffirmed 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 cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Raymond James Financial restated an "outperform" rating and set a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday. Barclays lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, 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 research report on Thursday, August 14th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.39.

Coterra Energy Trading Down 0.0%

Shares of CTRA stock traded down $0.01 during trading hours on Friday, hitting $24.36. 4,146,724 shares of the company were exchanged, compared to its average volume of 5,107,425. The firm has a market cap of $18.59 billion, a PE ratio of 11.66, a PEG ratio of 0.34 and a beta of 0.34. Coterra Energy Inc. has a 1 year low of $22.46 and a 1 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 has a fifty day moving average of $24.14 and a 200 day moving average of $25.31.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly 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 net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The company's quarterly revenue was up 54.6% on a year-over-year basis. Analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current 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 issued a $0.22 dividend. The ex-dividend date was Thursday, August 14th. This represents a $0.88 annualized dividend and a yield of 3.6%. Coterra Energy's dividend payout ratio (DPR) is presently 42.11%.

About Coterra Energy

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.