Public Employees Retirement Association of Colorado Has $2.19 Million Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Public Employees Retirement Association of Colorado reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 81,952 shares of the company’s stock after selling 2,408 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Coterra Energy were worth $2,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Coterra Energy by 12.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,734 shares of the company’s stock worth $2,366,000 after buying an additional 10,000 shares during the last quarter. Ieq Capital LLC raised its position in shares of Coterra Energy by 1.2% during the 2nd quarter. Ieq Capital LLC now owns 213,213 shares of the company’s stock valued at $5,686,000 after acquiring an additional 2,451 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Coterra Energy by 189.7% during the 2nd quarter. Intech Investment Management LLC now owns 160,497 shares of the company’s stock valued at $4,280,000 after acquiring an additional 105,095 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Coterra Energy in the 2nd quarter valued at $1,736,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Coterra Energy by 27.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 83,269 shares of the company’s stock worth $2,091,000 after purchasing an additional 17,782 shares during the period. Institutional investors own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Bank of America reissued a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research report on Friday, June 14th. Finally, UBS Group lowered their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.59.

Coterra Energy Stock Up 1.4 %

Coterra Energy stock opened at $23.99 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.89. The company has a fifty day simple moving average of $24.36 and a 200 day simple moving average of $26.38. The company has a market cap of $17.85 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.38 EPS. Coterra Energy’s revenue was up 7.3% on a year-over-year basis. Research analysts anticipate that Coterra Energy Inc. will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 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.