Public Sector Pension Investment Board Sells 400 Shares of Coterra Energy Inc. (NYSE:CTRA)

Public Sector Pension Investment Board cut its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,080 shares of the company’s stock after selling 400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Coterra Energy were worth $3,091,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in shares of Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares in the last quarter. Marshall Wace LLP boosted its holdings in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Coterra Energy by 395.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock worth $21,551,000 after buying an additional 718,182 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Coterra Energy during the 2nd quarter worth approximately $12,898,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $26.16 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The stock has a market capitalization of $19.27 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.70 and a beta of 0.27. The business has a 50-day moving average price of $24.80 and a two-hundred day moving average price of $25.34.

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

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Mizuho increased their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Scotiabank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Susquehanna boosted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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.