Cypress Asset Management Inc. TX Has $347,000 Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Cypress Asset Management Inc. TX decreased its position in Coterra Energy Inc. (NYSE:CTRA) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,090 shares of the company’s stock after selling 480 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Coterra Energy were worth $347,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Coterra Energy by 145.9% during the 4th quarter. Blue Trust Inc. now owns 3,332 shares of the company’s stock worth $89,000 after purchasing an additional 1,977 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Coterra Energy by 7.1% during the 4th quarter. State of Alaska Department of Revenue now owns 146,087 shares of the company’s stock valued at $3,727,000 after purchasing an additional 9,695 shares during the last quarter. Pinnacle Associates Ltd. increased its position in Coterra Energy by 5.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock worth $343,000 after purchasing an additional 679 shares in the last quarter. Oak Thistle LLC lifted its stake in Coterra Energy by 23.0% in the 4th quarter. Oak Thistle LLC now owns 29,912 shares of the company’s stock valued at $763,000 after purchasing an additional 5,590 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in Coterra Energy by 12.6% during the 4th quarter. Ballentine Partners LLC now owns 18,894 shares of the company’s stock worth $482,000 after acquiring an additional 2,121 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Piper Sandler upped their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Susquehanna raised their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Finally, Truist Financial decreased their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.94.

Coterra Energy Price Performance

NYSE CTRA traded down $1.29 on Friday, hitting $24.11. The stock had a trading volume of 13,521,471 shares, compared to its average volume of 5,338,893. The firm has a 50-day moving average of $26.87 and a 200-day moving average of $26.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy Inc. has a 52-week low of $23.73 and a 52-week high of $29.89. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Equities analysts expect that Coterra Energy Inc. will post 2.02 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.48%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.