Louisiana State Employees Retirement System Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Louisiana State Employees Retirement System bought a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 45,500 shares of the company’s stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. SouthState Corp lifted its position in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Coterra Energy during the 4th quarter worth about $33,000. VisionPoint Advisory Group LLC lifted its position in Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Coterra Energy during the 3rd quarter worth about $49,000. Finally, Larson Financial Group LLC lifted its position in Coterra Energy by 408.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,292 shares of the company’s stock worth $62,000 after buying an additional 1,841 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CTRA shares. Mizuho restated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Wednesday, April 3rd. Susquehanna upped their target price on shares of Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Monday. Truist Financial cut their target price on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Friday, January 5th. Finally, Stifel Nicolaus cut their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was 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. 1.70% of the stock is owned by company insiders.

Coterra Energy Price Performance

NYSE CTRA opened at $28.14 on Wednesday. The business has a 50 day simple moving average of $26.86 and a 200 day simple moving average of $26.41. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 13.15 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last posted its 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 business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Analysts anticipate that Coterra Energy Inc. will post 1.93 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.99%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is presently 39.25%.

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.