Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,080 shares of the company’s stock after selling 400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Coterra Energy were worth $3,091,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Coterra Energy by 395.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock valued at $21,551,000 after purchasing an additional 718,182 shares during the period. FORA Capital LLC acquired a new position in Coterra Energy during the third quarter worth about $432,000. CreativeOne Wealth LLC raised its position in Coterra Energy by 31.8% in the third quarter. CreativeOne Wealth LLC now owns 64,713 shares of the company’s stock worth $1,550,000 after acquiring an additional 15,608 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Coterra Energy in the 3rd quarter valued at about $1,708,000. Finally, Glenmede Trust Co. NA boosted its position in shares of Coterra Energy by 9.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 19,045 shares of the company’s stock valued at $456,000 after purchasing an additional 1,719 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the firm’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 value 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. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 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 corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTRA. UBS Group boosted 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. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Truist Financial lifted their target price on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two investment 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 stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Price Performance

CTRA opened at $26.16 on Wednesday. The stock has a fifty day moving average price of $24.80 and a 200 day moving average price of $25.34. 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 stock has a market cap of $19.27 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.70 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. Analysts forecast that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

Coterra Energy 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.