Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP cut its position in Coterra Energy Inc. (NYSE:CTRA) by 30.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,941 shares of the company’s stock after selling 8,170 shares during the quarter. Qsemble Capital Management LP’s holdings in Coterra Energy were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRA. Fifth Third Bancorp lifted its holdings in Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after buying an additional 399 shares in the last quarter. TCW Group Inc. boosted its holdings in Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after purchasing an additional 404 shares during the period. Redwood Wealth Management Group LLC grew its stake 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 worth $529,000 after purchasing an additional 429 shares in the last quarter. Quent Capital LLC increased its holdings in Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after purchasing an additional 445 shares during the period. Finally, Financial Advisors Network Inc. raised its position in Coterra Energy by 3.6% in the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock valued at $372,000 after purchasing an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTRA. Piper Sandler decreased their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday. Bank of America restated a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. UBS Group lowered their price objective on Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Two 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.88.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $22.78 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.89. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.16 and a beta of 0.22. The company has a 50-day simple moving average of $24.84 and a 200-day simple moving average of $26.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last issued 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 company 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%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. On average, analysts predict that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.69%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Coterra Energy 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.