Strs Ohio Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Strs Ohio boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 53.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,622 shares of the company’s stock after buying an additional 21,016 shares during the quarter. Strs Ohio’s holdings in Coterra Energy were worth $1,547,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new position in Coterra Energy during the fourth quarter worth about $25,000. SouthState Corp lifted its stake in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Coterra Energy during the fourth quarter worth about $33,000. VisionPoint Advisory Group LLC grew its stake in shares of Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after acquiring an additional 740 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new position in shares of Coterra Energy in the 1st quarter valued at about $41,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research analyst reports. Morgan Stanley raised their target price on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Stifel Nicolaus cut their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. upped their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Barclays started coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target on the stock. Finally, Raymond James raised their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Coterra Energy Stock Performance

Coterra Energy stock opened at $27.75 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The firm’s fifty day moving average price is $26.71 and its 200 day moving average price is $26.38. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 12.97 and a beta of 0.21. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, research analysts forecast that Coterra Energy Inc. will post 1.93 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.21 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Insider Activity

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy 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.