Vanguard Group Inc. Sells 405,436 Shares of Coterra Energy Inc. (NYSE:CTRA)

Vanguard Group Inc. lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,521,678 shares of the company’s stock after selling 405,436 shares during the period. Vanguard Group Inc. owned 0.12% of Coterra Energy worth $2,440,104,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CTRA. Raymond James Trust N.A. raised its stake in Coterra Energy by 5.6% in the 4th quarter. Raymond James Trust N.A. now owns 14,862 shares of the company’s stock valued at $379,000 after acquiring an additional 782 shares during the period. Accurate Wealth Management LLC lifted its stake in shares of Coterra Energy by 67.4% during the 4th quarter. Accurate Wealth Management LLC now owns 20,231 shares of the company’s stock valued at $509,000 after buying an additional 8,148 shares in the last quarter. Premier Path Wealth Partners LLC bought a new position in Coterra Energy in the 4th quarter worth approximately $203,000. AustralianSuper Pty Ltd grew its stake in Coterra Energy by 14.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 216,608 shares of the company’s stock valued at $5,528,000 after buying an additional 27,030 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Coterra Energy by 2.3% during the 4th quarter. Raymond James & Associates now owns 1,122,446 shares of the company’s stock valued at $28,645,000 after acquiring an additional 25,462 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $0.31 during mid-day trading on Friday, reaching $26.80. 4,790,891 shares of the company were exchanged, compared to its average volume of 5,978,679. Coterra Energy Inc. has a 52 week low of $23.73 and a 52 week high of $29.89. The company’s 50 day moving average price is $27.30 and its 200 day moving average price is $26.71. The stock has a market capitalization of $19.95 billion, a PE ratio of 15.49, a PEG ratio of 1.22 and a beta of 0.24. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Sell-side analysts forecast that Coterra Energy Inc. will post 2.06 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTRA. Barclays began coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target for the company. Bank of America reaffirmed a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Truist Financial raised shares of Coterra Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $27.00 to $35.00 in a report on Thursday, May 16th. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Mizuho upped their target price on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.00.

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.