Virtu Financial LLC Cuts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Virtu Financial LLC lessened its holdings in Coterra Energy Inc. (NYSE:CTRA) by 79.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,463 shares of the company’s stock after selling 36,856 shares during the period. Virtu Financial LLC’s holdings in Coterra Energy were worth $241,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CTRA. Balyasny Asset Management L.P. purchased a new stake in Coterra Energy in the 4th quarter worth $54,625,000. Schroder Investment Management Group grew its position in shares of Coterra Energy by 21.7% during the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after purchasing an additional 1,281,094 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Coterra Energy during the fourth quarter valued at about $31,112,000. Dimensional Fund Advisors LP grew its position in shares of Coterra Energy by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock valued at $267,089,000 after purchasing an additional 848,519 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Coterra Energy by 60.4% during the third quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after purchasing an additional 729,306 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 1.0 %

Shares of NYSE CTRA opened at $26.62 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The company has a market cap of $19.81 billion, a P/E ratio of 15.39, a PEG ratio of 1.24 and a beta of 0.21. Coterra Energy Inc. has a 1 year low of $23.60 and a 1 year high of $29.89. The firm has a 50-day simple moving average of $27.66 and a two-hundred day simple moving average of $26.48.

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

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s payout ratio is currently 48.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CTRA shares. Morgan Stanley raised their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Scotiabank raised their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler raised their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Citigroup raised their price objective on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, Susquehanna lifted their price target on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.93.

About Coterra Energy

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.