Coterra Energy Inc. (NYSE:CTRA) Stock Position Cut by KLCM Advisors Inc.
KLCM Advisors Inc. reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 98.3% in Q1, now holding 9,455 shares valued at $273,000. Other institutional investors have also adjusted their positions. Coterra Energy's stock opened at $24.23, with a market cap of $18.49 billion. The company reported Q2 earnings of $0.48 per share, missing estimates, but revenue was up 54.6% year-over-year. Coterra declared a quarterly dividend of $0.22, with a yield of 3.6%. Analysts have mixed ratings, with an average target of $33.16.
KLCM Advisors Inc. lessened its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 98.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,455 shares of the company's stock after selling 532,522 shares during the period. KLCM Advisors Inc.'s holdings in Coterra Energy were worth $273,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dark Forest Capital Management LP bought a new position in Coterra Energy in the 4th quarter valued at about $942,000. State of Tennessee Department of Treasury grew its position in Coterra Energy by 7.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock valued at $12,075,000 after buying an additional 31,425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Coterra Energy in the 4th quarter valued at about $641,000. Allspring Global Investments Holdings LLC grew its position in Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after buying an additional 8,726 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Coterra Energy in the 1st quarter valued at about $233,000. Institutional investors own 87.92% of the company's stock.
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Coterra Energy Price Performance
NYSE CTRA opened at $24.23 on Thursday. The company has a 50 day simple moving average of $25.01 and a 200-day simple moving average of $25.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95.
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Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%. Coterra Energy's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. Equities research analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.
Coterra Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, August 14th. Coterra Energy's dividend payout ratio is 42.11%.
Analyst Ratings Changes
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Several equities analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Barclays raised their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Susquehanna reduced their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Finally, Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.16.
Read Our Latest Stock Analysis on CTRA
Coterra Energy Company Profile
(Free Report)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.
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