Illinois Municipal Retirement Fund Purchases 76,509 Shares of Coterra Energy Inc. (NYSE:CTRA)

Illinois Municipal Retirement Fund boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 20.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,863 shares of the company’s stock after buying an additional 76,509 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Coterra Energy worth $11,285,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. City State Bank acquired a new position in Coterra Energy during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc boosted its stake in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC boosted its stake in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in Coterra Energy during the 4th quarter valued at about $32,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in Coterra Energy by 33.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock valued at $44,000 after purchasing an additional 429 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James boosted their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. UBS Group boosted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler boosted their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Susquehanna boosted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $33.42.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Coterra Energy Trading Down 2.1 %

Shares of CTRA stock opened at $27.38 on Wednesday. The company’s fifty day simple moving average is $27.29 and its two-hundred day simple moving average is $25.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market capitalization of $20.17 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.21%. Coterra Energy’s payout ratio is presently 50.60%.

About Coterra Energy

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.