Kentucky Retirement Systems Sells 1,041 Shares of Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,083 shares of the company’s stock after selling 1,041 shares during the period. Kentucky Retirement Systems’ holdings in Coterra Energy were worth $1,496,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Fortitude Family Office LLC increased its holdings in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the first quarter worth approximately $44,000. Harbor Investment Advisory LLC raised its holdings in shares of Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Coterra Energy during the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.4 %

Shares of CTRA stock opened at $23.66 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The stock has a fifty day simple moving average of $24.42 and a two-hundred day simple moving average of $26.40. The firm has a market capitalization of $17.61 billion, a PE ratio of 13.68, a PEG ratio of 1.16 and a beta of 0.22. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts predict that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTRA. Morgan Stanley decreased their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Piper Sandler reduced their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Susquehanna dropped their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.59.

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.