Voleon Capital Management LP Sells 31,148 Shares of Coterra Energy Inc. $CTRA

Voleon Capital Management LP trimmed its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 73.8% during the first quarter, HoldingsChannel reports. The fund owned 11,069 shares of the company’s stock after selling 31,148 shares during the period. Voleon Capital Management LP’s holdings in Coterra Energy were worth $320,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 4.3% during the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after buying an additional 3,818,700 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Coterra Energy by 5,145.4% during the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company’s stock worth $89,592,000 after buying an additional 3,040,963 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Coterra Energy during the fourth quarter worth about $57,877,000. Finally, Nuveen LLC acquired a new stake in Coterra Energy in the 1st quarter valued at approximately $64,173,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

NYSE CTRA opened at $23.85 on Wednesday. The firm has a market capitalization of $18.20 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.32 and a beta of 0.34. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $24.18 and its two-hundred day moving average price is $25.37. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. As a group, research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTRA shares. Wells Fargo & Company upped their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Mizuho cut their price objective on shares of Coterra Energy from $38.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Piper Sandler raised their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, Scotiabank reissued an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.61.

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.