New York State Teachers Retirement System Reduces Holdings in Coterra Energy Inc. $CTRA

New York State Teachers Retirement System reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 817,896 shares of the company’s stock after selling 49,527 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Coterra Energy worth $19,343,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bogart Wealth LLC purchased a new position in shares of Coterra Energy during the second quarter worth about $26,000. REAP Financial Group LLC grew its stake in Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after buying an additional 726 shares during the last quarter. Tobam grew its stake in Coterra Energy by 50.9% during the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after buying an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in Coterra Energy during the second quarter worth approximately $50,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Coterra Energy during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $25.20 on Wednesday. The stock has a market capitalization of $19.19 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.39 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95. The company’s fifty day moving average is $26.10 and its two-hundred day moving average is $24.74.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm’s revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. On average, sell-side analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.5%. Coterra Energy’s dividend payout ratio is presently 40.55%.

Analysts Set New Price Targets

CTRA has been the subject of several research analyst reports. Scotiabank decreased their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 9th. Johnson Rice reduced their price target on shares of Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday. Piper Sandler dropped their price objective on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Finally, William Blair initiated coverage on shares of Coterra Energy in a report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price for the company. Sixteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.52.

Coterra Energy Profile

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.