Systematic Financial Management LP Sells 925 Shares of Coterra Energy Inc. (NYSE:CTRA)

Systematic Financial Management LP lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,695 shares of the company’s stock after selling 925 shares during the period. Systematic Financial Management LP’s holdings in Coterra Energy were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. KBC Group NV lifted its stake in shares of Coterra Energy by 240.1% during the 4th quarter. KBC Group NV now owns 863,965 shares of the company’s stock worth $22,049,000 after buying an additional 609,954 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $656,000. Quadrature Capital Ltd lifted its stake in shares of Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after buying an additional 38,278 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Coterra Energy by 98.7% in the 4th quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock worth $4,352,000 after purchasing an additional 84,680 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Coterra Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after purchasing an additional 407,244 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Truist Financial dropped their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. UBS Group dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. dropped 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 report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.59.

Coterra Energy Stock Performance

CTRA opened at $23.74 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $24.07 and its two-hundred day moving average price is $26.30. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that Coterra Energy Inc. will post 1.74 EPS for the current fiscal 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 dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.54%. Coterra Energy’s payout ratio is currently 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.