Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,771 shares of the company’s stock after selling 908 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Coterra Energy were worth $2,550,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc. raised its holdings in shares of Coterra Energy by 131.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc. now owns 23,157 shares of the company’s stock worth $586,000 after acquiring an additional 13,157 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Coterra Energy by 143.6% in the second quarter. Canada Pension Plan Investment Board now owns 383,031 shares of the company’s stock worth $9,691,000 after acquiring an additional 225,821 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Coterra Energy by 6.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 692,010 shares of the company’s stock worth $17,508,000 after acquiring an additional 42,849 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Coterra Energy by 2.9% in the second quarter. Fisher Asset Management LLC now owns 13,982 shares of the company’s stock worth $354,000 after acquiring an additional 398 shares during the last quarter. Finally, Archer Investment Corp grew its position in shares of Coterra Energy by 71.4% in the second quarter. Archer Investment Corp now owns 7,200 shares of the company’s stock valued at $182,000 after purchasing an additional 3,000 shares during the period. 90.54% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 3.1 %

Shares of Coterra Energy stock opened at $26.32 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $27.62 and its 200-day simple moving average is $26.53. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.22 and a beta of 0.34. Coterra Energy Inc. has a twelve month low of $22.25 and a twelve month high of $29.89.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Wednesday, November 15th. Coterra Energy’s payout ratio is 27.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CTRA shares. Citigroup lifted their price objective on Coterra Energy from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, September 20th. Susquehanna boosted their price target on Coterra Energy from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. UBS Group boosted their price target on Coterra Energy from $25.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Piper Sandler raised Coterra Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $35.00 in a research report on Monday, August 14th. Finally, Bank of America upped their target price on Coterra Energy from $32.00 to $34.00 in a research report on Wednesday, September 27th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.93.

Insider Transactions at Coterra Energy

In related news, Director Dan O. Dinges sold 68,275 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $27.22, for a total value of $1,858,445.50. Following the completion of the transaction, the director now directly owns 3,152,392 shares of the company’s stock, valued at approximately $85,808,110.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Dan O. Dinges sold 68,275 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $27.22, for a total value of $1,858,445.50. Following the completion of the transaction, the director now directly owns 3,152,392 shares of the company’s stock, valued at approximately $85,808,110.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dan O. Dinges sold 400,000 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $26.60, for a total value of $10,640,000.00. Following the completion of the transaction, the director now directly owns 3,302,392 shares of the company’s stock, valued at $87,843,627.20. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.