KBC Group NV Has $2.13 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

KBC Group NV lessened its holdings in Coterra Energy Inc. (NYSE:CTRA) by 21.9% during the first quarter, HoldingsChannel reports. The fund owned 73,662 shares of the company’s stock after selling 20,620 shares during the quarter. KBC Group NV’s holdings in Coterra Energy were worth $2,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTRA. Sterling Capital Management LLC increased its stake in Coterra Energy by 5,744.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock valued at $93,520,000 after buying an additional 3,599,042 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after purchasing an additional 2,600,801 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Coterra Energy during the 4th quarter worth approximately $61,461,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Coterra Energy during the 4th quarter worth approximately $57,877,000. Finally, Man Group plc increased its stake in shares of Coterra Energy by 81.4% during the 4th quarter. Man Group plc now owns 4,842,621 shares of the company’s stock worth $123,681,000 after purchasing an additional 2,172,931 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.6%

Shares of NYSE:CTRA opened at $25.19 on Friday. The firm has a fifty day moving average price of $25.20 and a two-hundred day moving average price of $26.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.34 and a beta of 0.35.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. Analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler decreased their price target on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the stock an “outperform” rating in a research note on Friday, June 13th. UBS Group decreased their price target on shares of Coterra Energy from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Susquehanna decreased their price target on shares of Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

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.