Tocqueville Asset Management L.P. Has $2.52 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Tocqueville Asset Management L.P. reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,504 shares of the company’s stock after selling 2,829 shares during the period. Tocqueville Asset Management L.P.’s holdings in Coterra Energy were worth $2,523,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CTRA. American Century Companies Inc. increased its position in Coterra Energy by 54.8% in the 3rd quarter. American Century Companies Inc. now owns 753,719 shares of the company’s stock worth $20,388,000 after purchasing an additional 266,700 shares during the last quarter. Raymond James Trust N.A. increased its position in Coterra Energy by 5.6% in the 4th quarter. Raymond James Trust N.A. now owns 14,862 shares of the company’s stock worth $379,000 after purchasing an additional 782 shares during the last quarter. Insight Wealth Strategies LLC increased its position in Coterra Energy by 5.4% in the 4th quarter. Insight Wealth Strategies LLC now owns 69,611 shares of the company’s stock worth $1,776,000 after purchasing an additional 3,576 shares during the last quarter. Independent Wealth Network Inc. boosted its stake in shares of Coterra Energy by 15.8% during the 4th quarter. Independent Wealth Network Inc. now owns 9,499 shares of the company’s stock worth $242,000 after acquiring an additional 1,295 shares in the last quarter. Finally, CX Institutional boosted its stake in shares of Coterra Energy by 1.1% during the 4th quarter. CX Institutional now owns 116,685 shares of the company’s stock worth $2,978,000 after acquiring an additional 1,241 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $26.80 on Friday. Coterra Energy Inc. has a 1-year low of $23.73 and a 1-year high of $29.89. The firm has a market capitalization of $19.95 billion, a PE ratio of 15.49, a PEG ratio of 1.22 and a beta of 0.24. The business’s 50 day moving average is $27.30 and its 200-day moving average is $26.71. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Sell-side analysts predict that Coterra Energy Inc. will post 2.06 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.13%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CTRA. Piper Sandler upped their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Mizuho upped their price target on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Scotiabank upped their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Truist Financial upgraded Coterra Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $27.00 to $35.00 in a research note on Thursday, May 16th. Finally, Citigroup increased their target price on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

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.