Coterra Energy Inc. $CTRA Shares Sold by Arizona State Retirement System

Arizona State Retirement System lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,336 shares of the company’s stock after selling 15,676 shares during the period. Arizona State Retirement System’s holdings in Coterra Energy were worth $5,510,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Advisors Asset Management Inc. lifted its position in shares of Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after buying an additional 398 shares during the last quarter. KLCM Advisors Inc. lifted its position in shares of Coterra Energy by 4.2% during the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after buying an additional 400 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Coterra Energy by 2.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock worth $363,000 after buying an additional 415 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Coterra Energy by 1.4% during the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after buying an additional 418 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC lifted its position in shares of Coterra Energy by 1.0% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after buying an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of several recent analyst reports. Susquehanna boosted their price objective on shares of Coterra Energy from $34.00 to $40.00 and gave the stock a “positive” rating in a research report on Tuesday, April 21st. Citigroup boosted their price objective on shares of Coterra Energy from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. TD Cowen reduced their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Piper Sandler boosted their price objective on shares of Coterra Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, Raymond James Financial boosted their price objective on shares of Coterra Energy from $34.00 to $41.00 in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.13.

Coterra Energy Stock Down 0.1%

CTRA stock opened at $33.50 on Monday. The company has a fifty day moving average price of $32.61 and a 200 day moving average price of $28.42. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $36.88. The company has a market cap of $25.44 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Coterra Energy’s dividend payout ratio is presently 38.60%.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.