Teachers Retirement System of The State of Kentucky Trims Stake in Coterra Energy Inc. (NYSE:CTRA)

Teachers Retirement System of The State of Kentucky trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,125 shares of the company’s stock after selling 5,185 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Coterra Energy were worth $1,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRA. Stone House Investment Management LLC increased its stake in Coterra Energy by 32.4% in the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after buying an additional 438 shares in the last quarter. Financial Advisors Network Inc. increased its stake in Coterra Energy by 3.6% in the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock worth $372,000 after buying an additional 501 shares in the last quarter. Trust Co. of Vermont increased its stake in Coterra Energy by 1.9% in the 3rd quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after buying an additional 503 shares in the last quarter. Cascade Investment Advisors Inc. increased its stake in Coterra Energy by 1.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock worth $1,305,000 after buying an additional 535 shares in the last quarter. Finally, SevenBridge Financial Group LLC increased its stake in Coterra Energy by 5.0% in the 4th quarter. SevenBridge Financial Group LLC now owns 11,353 shares of the company’s stock worth $290,000 after buying an additional 543 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 1.0 %

Shares of NYSE:CTRA opened at $26.62 on Friday. 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 Inc. has a 12 month low of $23.60 and a 12 month high of $29.89. The company has a 50-day moving average price of $27.66 and a 200 day moving average price of $26.49. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.25 and a beta of 0.21.

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

Coterra Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays assumed coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target for the company. Piper Sandler increased 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. Citigroup increased their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 24th. Morgan Stanley increased their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Finally, Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has an average 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.