California State Teachers Retirement System Reduces Position in Coterra Energy Inc. (NYSE:CTRA)

California State Teachers Retirement System trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRAFree Report) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,048,648 shares of the company’s stock after selling 36,739 shares during the quarter. California State Teachers Retirement System owned 0.14% of Coterra Energy worth $26,761,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of Coterra Energy during the fourth quarter worth about $33,000. VisionPoint Advisory Group LLC grew 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 worth $35,000 after purchasing an additional 740 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Coterra Energy in the fourth quarter worth about $33,000. Headlands Technologies LLC grew its stake in Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Stone House Investment Management LLC grew its stake in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of research reports. Citigroup lifted their price target on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Stifel Nicolaus decreased their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Morgan Stanley lifted their price target on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Mizuho lifted their price target on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Piper Sandler lifted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.73.

Check Out Our Latest Research Report on CTRA

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $27.56 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $27.86 and a 200-day simple moving average of $26.41. The company has a market cap of $20.51 billion, a PE ratio of 15.93 and a beta of 0.21. Coterra Energy Inc. has a 12-month low of $23.39 and a 12-month high of $29.89.

Coterra Energy (NYSE:CTRAGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.81 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 annualized dividend and a yield of 3.05%. Coterra Energy’s payout ratio is 48.55%.

Coterra Energy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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