Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 551,323 shares of the company's stock after selling 282,447 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Coterra Energy worth $15,933,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Cornerstone Planning Group LLC boosted its stake in Coterra Energy by 175.6% in 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. boosted its stake in Coterra Energy by 463.5% in the 1st 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. Wayfinding Financial LLC acquired a new stake in Coterra Energy in the 1st quarter worth about $34,000. Investors Research Corp boosted its stake in Coterra Energy by 45.2% in the 1st 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. Finally, Catalyst Capital Advisors LLC acquired a new stake in Coterra Energy in the 1st quarter worth about $46,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

CTRA traded up $0.12 during trading on Thursday, reaching $24.41. 10,990,243 shares of the company were exchanged, compared to its average volume of 7,121,261. The stock has a market cap of $18.63 billion, a P/E ratio of 14.19, a PEG ratio of 0.33 and a beta of 0.35. The firm has a 50 day moving average of $25.15 and a 200 day moving average of $26.27. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The firm had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The firm's revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th 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 was Thursday, May 15th. Coterra Energy's payout ratio is 51.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTRA shares. Morgan Stanley set a $28.00 price objective on Coterra Energy in a research note on Tuesday, April 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $37.00 price objective (up from $36.00) on shares of Coterra Energy in a research note on Thursday, July 17th. Bank of America dropped their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Finally, Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and an average price target of $33.16.

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.