Strs Ohio Acquires Shares of 55,369 Coterra Energy Inc. $CTRA

Strs Ohio acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 55,369 shares of the company’s stock, valued at approximately $1,600,000.

A number of other institutional investors have also modified their holdings of the stock. Cornerstone Planning Group LLC increased its stake in shares of Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Coterra Energy in the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in shares of Coterra Energy in the 1st quarter valued at about $34,000. Finally, Investors Research Corp increased its stake in shares of Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after purchasing an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

CTRA has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Pickering Energy Partners lowered Coterra Energy from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 20th. Mizuho lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Finally, Scotiabank reiterated an “outperform” rating on shares of Coterra Energy in a report on Friday, July 11th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.22.

Coterra Energy Trading Up 1.6%

Shares of Coterra Energy stock opened at $24.56 on Wednesday. The stock has a market cap of $18.74 billion, a P/E ratio of 11.75, a P/E/G ratio of 0.33 and a beta of 0.34. The stock’s 50 day simple moving average is $24.11 and its 200-day simple moving average is $25.27. Coterra Energy Inc. has a 1-year low of $22.46 and a 1-year high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s payout ratio is currently 42.11%.

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.