Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Axa S.A.

Axa S.A. lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,948 shares of the company’s stock after selling 2,192 shares during the period. Axa S.A.’s holdings in Coterra Energy were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Coterra Energy during the first quarter worth approximately $44,000. Harbor Investment Advisory LLC increased its holdings in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in Coterra Energy during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.8 %

CTRA opened at $24.15 on Wednesday. The firm has a market cap of $17.97 billion, a P/E ratio of 13.96, a PEG ratio of 1.37 and a beta of 0.22. The business’s fifty day simple moving average is $24.01 and its 200 day simple moving average is $26.27. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.89. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. As a group, equities research analysts anticipate that Coterra Energy Inc. will post 1.74 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.48%. Coterra Energy’s payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTRA. Susquehanna dropped their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Piper Sandler dropped their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, UBS Group decreased their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.53.

About Coterra Energy

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.