Strs Ohio Purchases 21,016 Shares of Coterra Energy Inc. (NYSE:CTRA)

Strs Ohio boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 53.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,622 shares of the company’s stock after acquiring 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC acquired a new position in shares of Coterra Energy during the 4th quarter worth about $25,000. SouthState Corp grew its holdings 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 during the period. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy during the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC raised its stake in Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after buying an additional 740 shares during the period. Finally, Achmea Investment Management B.V. acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $41,000. 87.92% of the stock is owned by institutional investors.

Coterra Energy Trading Up 1.9 %

CTRA opened at $27.75 on Monday. The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of 12.97 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The company has a 50-day simple moving average of $26.71 and a 200 day simple moving average of $26.38.

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

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTRA shares. Truist Financial cut their price target on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Stephens reiterated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research note on Tuesday, January 23rd. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Friday, January 5th. Barclays assumed coverage on Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Piper Sandler lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.33.

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.