Royal London Asset Management Ltd. Reduces Stake in Coterra Energy Inc. (NYSE:CTRA)

Royal London Asset Management Ltd. cut its stake in Coterra Energy Inc. (NYSE:CTRA) by 17.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,773,165 shares of the company’s stock after selling 381,348 shares during the quarter. Royal London Asset Management Ltd. owned about 0.24% of Coterra Energy worth $47,290,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC boosted its position in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC boosted 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 during the period. Central Pacific Bank Trust Division bought a new position in Coterra Energy in the 1st quarter valued at $44,000. Harbor Investment Advisory LLC increased its stake in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after purchasing an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Coterra Energy during the first quarter worth $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $22.62 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. The firm has a market cap of $16.83 billion, a PE ratio of 13.08, a P/E/G ratio of 1.17 and a beta of 0.22. Coterra Energy Inc. has a 12 month low of $22.35 and a 12 month high of $29.89. The stock has a fifty day moving average price of $25.09 and a 200-day moving average price of $26.59.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.38 EPS. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.71%. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTRA. Truist Financial decreased their price objective on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Monday, July 22nd. UBS Group lowered their price target on Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wolfe Research initiated coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, Piper Sandler cut their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.12.

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.