Coterra Energy Inc. $CTRA Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 35.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 52,991 shares of the company’s stock after selling 28,597 shares during the period. Texas Permanent School Fund Corp’s holdings in Coterra Energy were worth $1,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Coterra Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after buying an additional 2,872,288 shares in the last quarter. State Street Corp lifted its stake in Coterra Energy by 0.9% in the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after purchasing an additional 386,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coterra Energy by 5.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after purchasing an additional 953,824 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Coterra Energy by 1.1% in the second quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock valued at $344,536,000 after purchasing an additional 141,830 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of CTRA opened at $25.96 on Wednesday. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $29.95. The stock has a market cap of $19.76 billion, a PE ratio of 11.96, a P/E/G ratio of 0.43 and a beta of 0.33. The firm has a 50-day simple moving average of $25.46 and a two-hundred day simple moving average of $24.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. As a group, analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several analyst reports. Piper Sandler dropped their target price on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. UBS Group raised their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Stephens decreased their target price on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Susquehanna dropped their price target on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Finally, BMO Capital Markets reduced their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research report on Monday, December 15th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.86.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.