Nordea Investment Management AB cut its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 79.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,948 shares of the company's stock after selling 157,722 shares during the period. Nordea Investment Management AB's holdings in Coterra Energy were worth $1,114,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC raised its holdings in shares of Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company's stock worth $35,000 after buying an additional 740 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Coterra Energy during the 4th quarter worth $33,000. Harbor Investment Advisory LLC raised its holdings in shares of Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company's stock worth $45,000 after buying an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Coterra Energy during the 1st quarter worth $47,000. 87.92% of the stock is owned by institutional investors and hedge funds.
Coterra Energy Trading Up 0.4 %
Shares of NYSE CTRA traded up $0.11 during trading on Friday, reaching $27.10. The company had a trading volume of 3,734,002 shares, compared to its average volume of 6,498,752. The company's fifty day moving average price is $27.41 and its 200-day moving average price is $26.65. Coterra Energy Inc. has a 12 month low of $23.73 and a 12 month high of $29.89. The stock has a market cap of $20.17 billion, a P/E ratio of 15.66, a PEG ratio of 1.21 and a beta of 0.24. 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 - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.38 billion. As a group, research analysts expect that Coterra Energy Inc. will post 2.03 earnings per share for the current year.
Coterra Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. Coterra Energy's dividend payout ratio (DPR) is presently 48.55%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 4th. Stifel Nicolaus lowered their target price on Coterra Energy from $33.00 to $31.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Citigroup upped their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 24th. Bank of America reaffirmed a "buy" rating and issued a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Finally, Piper Sandler upped their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.93.
View Our Latest Stock Report on CTRA
About Coterra Energy
(
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.
Further Reading
Before you consider Coterra Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Coterra Energy wasn't on the list.
While Coterra Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
