Public Employees Retirement System of Ohio Has $6.79 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Public Employees Retirement System of Ohio cut its position in Coterra Energy Inc. (NYSE:CTRA) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 283,320 shares of the company’s stock after selling 12,143 shares during the period. Public Employees Retirement System of Ohio’s holdings in Coterra Energy were worth $6,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Coterra Energy in the third quarter worth about $57,000. Tobam bought a new stake in shares of Coterra Energy in the third quarter worth about $63,000. Capital Performance Advisors LLP acquired a new stake in shares of Coterra Energy during the third quarter worth about $67,000. Finally, Family Firm Inc. bought a new position in shares of Coterra Energy during the 2nd quarter valued at about $68,000. 87.92% of the stock is owned by institutional investors.

Insider Activity at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CTRA shares. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Piper Sandler raised their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial lifted their price target on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Stock Down 1.3 %

Shares of CTRA stock opened at $25.33 on Friday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.64 and a beta of 0.27. The firm’s 50-day moving average is $25.00 and its 200-day moving average is $25.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Coterra Energy Company 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.