KBC Group NV Sells 4,150 Shares of Coterra Energy Inc. $CTRA

KBC Group NV lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,512 shares of the company’s stock after selling 4,150 shares during the period. KBC Group NV’s holdings in Coterra Energy were worth $1,764,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Hartford Funds Management Co LLC raised its stake in Coterra Energy by 1.4% in the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after acquiring an additional 472 shares during the period. Horizon Investments LLC boosted its position in Coterra Energy by 4.5% during the first quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after purchasing an additional 474 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in shares of Coterra Energy by 4.0% in the first quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock worth $355,000 after purchasing an additional 477 shares in the last quarter. Wellington Shields Capital Management LLC raised its position in shares of Coterra Energy by 5.4% in the second quarter. Wellington Shields Capital Management LLC now owns 9,725 shares of the company’s stock valued at $247,000 after purchasing an additional 500 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Coterra Energy by 5.3% in the second quarter. Fifth Third Wealth Advisors LLC now owns 10,534 shares of the company’s stock valued at $267,000 after purchasing an additional 533 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CTRA shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Coterra Energy in a report on Thursday. Susquehanna dropped their target price on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Mizuho reduced their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Seventeen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

Coterra Energy Trading Up 2.0%

Shares of CTRA stock opened at $26.34 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $29.95. The company has a market capitalization of $20.06 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The business’s fifty day moving average is $24.12 and its 200 day moving average is $24.48.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.Coterra Energy’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. Coterra Energy’s payout ratio is presently 40.55%.

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.