Kentucky Retirement Systems Sells 4,581 Shares of Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 51,502 shares of the company’s stock after selling 4,581 shares during the period. Kentucky Retirement Systems’ holdings in Coterra Energy were worth $1,233,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Fortitude Family Office LLC boosted its stake in shares of Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC lifted its holdings in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new position in Coterra Energy during the third quarter worth $57,000. Tobam acquired a new position in shares of Coterra Energy in the third quarter valued at $63,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CTRA shares. Susquehanna upped their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Morgan Stanley lifted their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Piper Sandler boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Price Performance

Shares of CTRA stock opened at $26.12 on Tuesday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $23.95 and a 200 day simple moving average of $25.45. The company has a market cap of $19.24 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 earnings per share. On average, sell-side analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.22%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

About Coterra Energy

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.