Kentucky Retirement Systems Cuts Stake in Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,124 shares of the company’s stock after selling 3,059 shares during the quarter. Kentucky Retirement Systems’ holdings in Coterra Energy were worth $1,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wetzel Investment Advisors Inc. purchased a new stake in Coterra Energy in the fourth quarter worth approximately $33,000. Tennessee Valley Asset Management Partners bought a new stake in Coterra Energy in the fourth quarter valued at approximately $33,000. Headlands Technologies LLC lifted its position in Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock valued at $44,000 after purchasing an additional 1,392 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Coterra Energy in the first quarter valued at approximately $44,000. Finally, Harbor Investment Advisory LLC lifted its position in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CTRA shares. JPMorgan Chase & Co. increased their price objective on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Truist Financial decreased their price objective on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Mizuho increased their price objective on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Citigroup increased their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Barclays started coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.94.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded up $0.06 during trading on Friday, hitting $25.78. 4,015,303 shares of the company’s stock traded hands, compared to its average volume of 4,993,731. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. Coterra Energy Inc. has a 1 year low of $23.73 and a 1 year high of $29.89. The stock has a market capitalization of $19.19 billion, a P/E ratio of 14.90, a PEG ratio of 1.52 and a beta of 0.24. The business has a 50-day simple moving average of $27.10 and a 200-day simple moving average of $26.72.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. As a group, analysts forecast that Coterra Energy Inc. will post 2.01 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.26%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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'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.