Hexagon Capital Partners LLC Sells 405 Shares of Coterra Energy Inc. (NYSE:CTRA)

Hexagon Capital Partners LLC lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,530 shares of the company’s stock after selling 405 shares during the period. Hexagon Capital Partners LLC’s holdings in Coterra Energy were worth $43,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. Wetzel Investment Advisors Inc. bought a new stake in Coterra Energy in the fourth quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy in the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC increased its position in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the period. Headlands Technologies LLC raised its stake in Coterra Energy by 397.7% during the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after buying an additional 1,392 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after buying an additional 1,443 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $26.55 on Tuesday. The company has a market cap of $19.76 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.24 and a beta of 0.24. The business has a 50 day moving average price of $27.62 and a 200-day moving average price of $26.60. Coterra Energy Inc. has a 52 week low of $23.73 and a 52 week high of $29.89. 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 announced its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Equities analysts anticipate that Coterra Energy Inc. will post 2 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CTRA shares. Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $35.00 in a research report on Thursday, May 16th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Stifel Nicolaus reduced their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Bank of America reiterated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Finally, Scotiabank raised 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. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.93.

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.