Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC lowered its holdings in Coterra Energy Inc. (NYSE:CTRA) by 58.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,350 shares of the company’s stock after selling 14,500 shares during the quarter. Hourglass Capital LLC’s holdings in Coterra Energy were worth $276,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Fortitude Family Office LLC increased its holdings in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC increased its holdings in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Coterra Energy during the 1st quarter valued at about $44,000. Harbor Investment Advisory LLC increased its holdings in Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Coterra Energy during the 1st quarter valued at about $47,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $23.43 on Friday. Coterra Energy Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The stock has a market capitalization of $17.44 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.24 and a beta of 0.22. The business has a 50-day moving average of $25.30 and a two-hundred day moving average of $26.63.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, equities research analysts predict that Coterra Energy Inc. will post 1.95 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. Stockholders of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CTRA. Wolfe Research began coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. Truist Financial decreased their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Bank of America restated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Mizuho lifted their target price on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.12.

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.