Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,189 shares of the company’s stock after selling 1,500 shares during the quarter. Gabelli Funds LLC’s holdings in Coterra Energy were worth $3,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fifth Third Bancorp increased its position in shares of Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after purchasing an additional 399 shares during the last quarter. TCW Group Inc. increased its holdings in Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after acquiring an additional 404 shares in the last quarter. Redwood Wealth Management Group LLC increased its holdings in Coterra Energy by 2.3% during the 1st quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after acquiring an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. grew its holdings in shares of Coterra Energy by 0.7% during the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after buying an additional 436 shares in the last quarter. Finally, Quent Capital LLC boosted its position in shares of Coterra Energy by 8.1% in the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after acquiring an additional 445 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of CTRA opened at $23.76 on Wednesday. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The business’s 50-day moving average is $24.29 and its 200-day moving average is $26.36.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Equities research analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is presently 48.55%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial reduced their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Bank of America reissued a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a report on Friday, June 14th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.59.

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.