Kentucky Retirement Systems Has $1.23 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 51,502 shares of the company’s stock after selling 4,581 shares during the period. Kentucky Retirement Systems’ holdings in Coterra Energy were worth $1,233,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Fortitude Family Office LLC boosted its position in shares of Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $57,000. Tobam bought a new stake in shares of Coterra Energy in the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after acquiring an additional 557 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 2.1 %

Coterra Energy stock opened at $26.12 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a fifty day simple moving average of $23.95 and a 200 day simple moving average of $25.45. The company has a market cap of $19.24 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

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). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.47 EPS. Coterra Energy’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Scotiabank lowered their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Mizuho lifted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley boosted their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

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.