Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 10.3% 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 1,714,909 shares of the company’s stock after selling 197,200 shares during the period. Renaissance Technologies LLC owned 0.23% of Coterra Energy worth $45,737,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CTRA. KBC Group NV increased its holdings in shares of Coterra Energy by 240.1% in 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Coterra Energy during the first quarter worth approximately $656,000. Quadrature Capital Ltd lifted its position 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. Beacon Pointe Advisors LLC boosted its holdings in shares of Coterra Energy by 5.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 44,303 shares of the company’s stock valued at $1,131,000 after buying an additional 2,420 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Coterra Energy by 98.7% in the 4th quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock valued at $4,352,000 after buying an additional 84,680 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CTRA shares. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Susquehanna lowered their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target 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. Finally, Bank of America reissued a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.76.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.01 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.89. The company has a market cap of $17.12 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. The stock has a 50 day simple moving average of $24.63 and a 200-day simple moving average of $26.46.

Coterra Energy (NYSE:CTRA) last issued 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 company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts forecast that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

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.