Hexagon Capital Partners LLC Decreases Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Hexagon Capital Partners LLC decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 20.9% during the first quarter, according to its most recent Form 13F filing with the Securities & 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 filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Balyasny Asset Management L.P. bought a new position in Coterra Energy during the 4th quarter valued at about $54,625,000. Schroder Investment Management Group grew its stake in shares of Coterra Energy by 21.7% during the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after buying an additional 1,281,094 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of Coterra Energy in the fourth quarter worth approximately $31,112,000. Dimensional Fund Advisors LP lifted its stake in shares of Coterra Energy by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after acquiring an additional 848,519 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Coterra Energy by 240.1% during the 4th quarter. KBC Group NV now owns 863,965 shares of the company’s stock valued at $22,049,000 after acquiring an additional 609,954 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $26.55 on Tuesday. Coterra Energy Inc. has a one year low of $23.73 and a one year high of $29.89. The company has a market capitalization of $19.76 billion, a PE ratio of 15.35, a P/E/G ratio of 1.24 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The company has a 50-day simple moving average of $27.62 and a two-hundred day simple moving average of $26.60.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.38 billion. Research analysts expect that Coterra Energy Inc. will post 2 EPS for the current fiscal year.

Coterra Energy Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on CTRA shares. Mizuho lifted their target price on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Susquehanna upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Stifel Nicolaus decreased their price target on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Citigroup lifted their target price on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.