Teachers Retirement System of The State of Kentucky Sells 1,690 Shares of Coterra Energy Inc. (NYSE:CTRA)

Teachers Retirement System of The State of Kentucky decreased its stake in Coterra Energy Inc. (NYSE:CTRA) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,835 shares of the company’s stock after selling 1,690 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Coterra Energy were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTRA. Balyasny Asset Management L.P. bought a new stake in Coterra Energy in the 4th quarter worth about $54,625,000. Bank of Montreal Can grew its position in Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares in the last quarter. SG Americas Securities LLC grew its stake in Coterra Energy by 2,609.6% in the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after buying an additional 1,484,458 shares in the last quarter. Bridgewater Associates LP bought a new position in Coterra Energy in the fourth quarter valued at $31,112,000. Finally, Marshall Wace LLP lifted its stake in Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after purchasing an additional 1,127,399 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 CTRA stock opened at $24.86 on Friday. The stock has a fifty day moving average price of $23.91 and a 200 day moving average price of $26.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.89. The stock has a market cap of $18.50 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.38 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Analysts predict that Coterra Energy Inc. will post 1.74 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTRA. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Susquehanna dropped their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley lowered their target price on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.24.

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.