Coterra Energy Inc. (NYSE:CTRA) Holdings Decreased by Pitcairn Co.

Pitcairn Co. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,888 shares of the company’s stock after selling 1,002 shares during the quarter. Pitcairn Co.’s holdings in Coterra Energy were worth $945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Coterra Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after acquiring an additional 407,244 shares during the period. Dimensional Fund Advisors LP grew its holdings in Coterra Energy by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after acquiring an additional 848,519 shares during the period. Schroder Investment Management Group grew its holdings in Coterra Energy by 8.7% during the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock worth $199,455,000 after acquiring an additional 628,132 shares during the period. Equity Investment Corp grew its holdings in Coterra Energy by 4.7% during the first quarter. Equity Investment Corp now owns 3,205,661 shares of the company’s stock worth $89,374,000 after acquiring an additional 143,454 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Coterra Energy by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 2,415,192 shares of the company’s stock worth $61,636,000 after acquiring an additional 101,929 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTRA shares. JPMorgan Chase & Co. upped their target price on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Bank of America reaffirmed a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Wolfe Research initiated coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Citigroup upped their price target on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, Barclays initiated 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.94.

Coterra Energy Price Performance

Shares of CTRA stock traded down $0.07 during trading on Thursday, hitting $25.72. The company had a trading volume of 4,587,633 shares, compared to its average volume of 6,437,953. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The firm has a market capitalization of $19.14 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.18 and a beta of 0.24. The stock’s 50-day moving average price is $27.19 and its 200 day moving average price is $26.72. Coterra Energy Inc. has a one year low of $23.73 and a one year high of $29.89.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share 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 analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Equities analysts expect that Coterra Energy Inc. will post 2.04 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.27%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.