Teachers Retirement System of The State of Kentucky Sells 4,213 Shares of Coterra Energy Inc. (NYSE:CTRA)

Teachers Retirement System of The State of Kentucky decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,622 shares of the company’s stock after selling 4,213 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Coterra Energy were worth $1,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CTRA. Larson Financial Group LLC increased its stake in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the third quarter valued at about $57,000. Tobam bought a new stake in shares of Coterra Energy during the third quarter worth about $63,000. Capital Performance Advisors LLP acquired a new stake in shares of Coterra Energy in the 3rd quarter worth about $67,000. Finally, Family Firm Inc. bought a new position in Coterra Energy in the 2nd quarter valued at about $68,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CTRA. Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley upped their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Truist Financial raised their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Piper Sandler reduced their price objective on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.53.

Coterra Energy Stock Performance

NYSE:CTRA opened at $24.52 on Wednesday. The company has a market capitalization of $18.06 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.64 and a beta of 0.27. The business has a fifty day simple moving average of $25.00 and a two-hundred day simple moving average of $25.19. 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 $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. On average, analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Insider Buying and Selling

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

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.