Lazard Asset Management LLC Sells 164,379 Shares of Coterra Energy Inc. (NYSE:CTRA)

Lazard Asset Management LLC trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 39.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 255,384 shares of the company’s stock after selling 164,379 shares during the period. Lazard Asset Management LLC’s holdings in Coterra Energy were worth $7,119,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Wetzel Investment Advisors Inc. acquired a new position in Coterra Energy in the fourth quarter worth about $33,000. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy in the fourth quarter worth about $33,000. Headlands Technologies LLC lifted its position in shares of Coterra Energy by 397.7% during the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after buying an additional 1,392 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Coterra Energy in the 1st quarter valued at $44,000. Finally, Harbor Investment Advisory LLC grew its position in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Down 0.3 %

NYSE:CTRA opened at $25.70 on Monday. Coterra Energy Inc. has a 1 year low of $23.73 and a 1 year high of $29.89. The stock has a 50-day moving average price of $27.10 and a two-hundred day moving average price of $26.73. The stock has a market cap of $19.13 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.52 and a beta of 0.24. 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 issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. As a group, equities analysts expect that Coterra Energy Inc. will post 2.01 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Wednesday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Analyst Ratings Changes

A number of research analysts have issued reports on CTRA shares. JPMorgan Chase & Co. lifted their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Truist Financial dropped 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. Citigroup boosted their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Piper Sandler raised their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Finally, Morgan Stanley boosted their price objective on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.94.

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.