Cypress Asset Management Inc. TX Trims Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Cypress Asset Management Inc. TX trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,090 shares of the company’s stock after selling 480 shares during the period. Cypress Asset Management Inc. TX’s holdings in Coterra Energy were worth $347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. Balyasny Asset Management L.P. purchased a new position in shares of Coterra Energy during the fourth quarter worth approximately $54,625,000. SG Americas Securities LLC raised its holdings in shares of Coterra Energy by 2,609.6% in the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock valued at $42,973,000 after buying an additional 1,484,458 shares during the last quarter. Bridgewater Associates LP acquired a new stake in shares of Coterra Energy during the fourth quarter worth about $31,112,000. Clearbridge Investments LLC purchased a new position in shares of Coterra Energy during the first quarter worth about $28,967,000. Finally, Dimensional Fund Advisors LP raised its stake in Coterra Energy by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock valued at $267,089,000 after acquiring an additional 848,519 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Down 5.1 %

Shares of CTRA traded down $1.29 on Friday, hitting $24.11. 13,521,471 shares of the stock traded hands, compared to its average volume of 5,338,893. Coterra Energy Inc. has a 1 year low of $23.73 and a 1 year high of $29.89. The stock’s 50 day moving average is $26.87 and its two-hundred day moving average is $26.71. The firm has a market capitalization of $17.94 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.49 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 posted its quarterly earnings data 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 business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. As a group, sell-side analysts predict that Coterra Energy Inc. will post 2.02 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CTRA shares. Barclays started coverage on Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target for the company. Scotiabank increased their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Truist Financial lowered their price objective on Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets raised Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, Piper Sandler increased their price objective on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.94.

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.