Teachers Retirement System of The State of Kentucky Takes $6.05 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 231,598 shares of the company’s stock, valued at approximately $6,049,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Coterra Energy during the third quarter valued at about $2,913,000. Guardian Wealth Advisors LLC bought a new stake in shares of Coterra Energy during the third quarter valued at about $30,000. Achmea Investment Management B.V. bought a new stake in shares of Coterra Energy during the first quarter valued at about $41,000. McIlrath & Eck LLC increased its position in shares of Coterra Energy by 703.5% during the third quarter. McIlrath & Eck LLC now owns 1,599 shares of the company’s stock valued at $42,000 after buying an additional 1,400 shares during the period. Finally, TFC Financial Management increased its position in shares of Coterra Energy by 3,018.9% during the third quarter. TFC Financial Management now owns 1,653 shares of the company’s stock valued at $43,000 after buying an additional 1,600 shares during the period. 94.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CTRA shares. Raymond James cut shares of Coterra Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, February 6th. Morgan Stanley decreased their price objective on shares of Coterra Energy from $31.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 24th. Bank of America upgraded shares of Coterra Energy from an “underperform” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $29.00 in a research report on Friday, January 6th. Citigroup cut shares of Coterra Energy from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $27.00 to $23.00 in a research report on Wednesday, December 7th. Finally, Truist Financial cut shares of Coterra Energy from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research report on Monday, December 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.50.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.19 on Friday. The firm has a market cap of $17.82 billion, a PE ratio of 4.54, a price-to-earnings-growth ratio of 0.16 and a beta of 0.25. Coterra Energy Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $36.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.80 and a current ratio of 1.85. The business has a 50 day moving average price of $24.78 and a 200-day moving average price of $26.67.

Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.15 billion. Coterra Energy had a return on equity of 31.29% and a net margin of 44.91%. Equities research analysts predict that Coterra Energy Inc. will post 2.8 earnings per share for the current year.

Coterra Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 9.83%. The ex-dividend date is Wednesday, March 15th. Coterra Energy’s payout ratio is 11.74%.

Coterra Energy Profile

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.