California State Teachers Retirement System Sells 31,885 Shares of Coterra Energy Inc. (NYSE:CTRA)

California State Teachers Retirement System cut its position in Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,261,830 shares of the company’s stock after selling 31,885 shares during the period. California State Teachers Retirement System’s holdings in Coterra Energy were worth $32,959,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. acquired a new position in shares of Coterra Energy in the third quarter valued at approximately $204,000. CENTRAL TRUST Co raised its stake in shares of Coterra Energy by 8.2% during the third quarter. CENTRAL TRUST Co now owns 18,761 shares of the company’s stock valued at $490,000 after acquiring an additional 1,429 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Coterra Energy by 0.4% during the third quarter. Glenmede Trust Co. NA now owns 1,133,859 shares of the company’s stock valued at $29,616,000 after acquiring an additional 4,130 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Coterra Energy by 63.9% during the third quarter. Captrust Financial Advisors now owns 146,776 shares of the company’s stock worth $3,834,000 after purchasing an additional 57,237 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Coterra Energy by 3.6% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,512 shares of the company’s stock worth $745,000 after purchasing an additional 982 shares during the last quarter. 94.72% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Trading Down 1.4 %

NYSE:CTRA opened at $23.19 on Friday. Coterra Energy Inc. has a 1 year low of $22.25 and a 1 year high of $36.55. The stock’s fifty day moving average price is $24.78 and its two-hundred day moving average price is $26.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.85 and a quick ratio of 1.80. The company has a market cap of $17.82 billion, a P/E ratio of 4.54, a P/E/G ratio of 0.15 and a beta of 0.25.

Coterra Energy (NYSE:CTRA – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Coterra Energy had a return on equity of 31.29% and a net margin of 44.91%. As a group, analysts expect that Coterra Energy Inc. will post 2.8 EPS for the current year.

Coterra Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be paid a dividend of $0.57 per share. The ex-dividend date is Wednesday, March 15th. This represents a $2.28 annualized dividend and a yield of 9.83%. Coterra Energy’s dividend payout ratio is currently 15.66%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTRA shares. Tudor Pickering downgraded Coterra Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. Raymond James cut Coterra Energy from an “outperform” rating to a “market perform” rating in a report on Monday, February 6th. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 10th. Mizuho reduced their price objective on shares of Coterra Energy from $40.00 to $38.00 in a research note on Friday, March 10th. Finally, Morgan Stanley lowered their target price on shares of Coterra Energy from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 24th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.50.

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.