CX Institutional Sells 471 Shares of Coterra Energy Inc. (NYSE:CTRA)

CX Institutional decreased its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,586 shares of the company’s stock after selling 471 shares during the period. CX Institutional’s holdings in Coterra Energy were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTRA. Savant Capital LLC grew its holdings in shares of Coterra Energy by 51.5% during the 4th quarter. Savant Capital LLC now owns 20,037 shares of the company’s stock valued at $512,000 after purchasing an additional 6,807 shares during the last quarter. Essex Financial Services Inc. bought a new position in shares of Coterra Energy during the 4th quarter valued at $211,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Coterra Energy by 227.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 114,328 shares of the company’s stock valued at $2,989,000 after purchasing an additional 79,463 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Coterra Energy by 6.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 300,017 shares of the company’s stock valued at $7,392,000 after purchasing an additional 19,288 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Coterra Energy by 3.5% during the 4th quarter. V Square Quantitative Management LLC now owns 13,137 shares of the company’s stock valued at $336,000 after purchasing an additional 440 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 2.1%

Shares of NYSE CTRA opened at $26.70 on Friday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market cap of $20.38 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.34. The firm has a 50-day moving average of $24.99 and a 200 day moving average of $26.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company posted $0.51 EPS. Coterra Energy’s revenue was up 32.9% on a year-over-year basis. As a group, sell-side analysts expect 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. Investors of record on Thursday, May 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.30%. Coterra Energy’s dividend payout ratio (DPR) is currently 51.16%.

Wall Street Analyst Weigh In

Several research firms recently commented on CTRA. Piper Sandler reduced their target price on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Pickering Energy Partners lowered shares of Coterra Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 20th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a report on Wednesday, March 5th. Raymond James cut their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Finally, Susquehanna cut their price target on shares of Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

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.