Kentucky Retirement Systems Insurance Trust Fund Sells 1,974 Shares of Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,823 shares of the company’s stock after selling 1,974 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Coterra Energy were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. Tennessee Valley Asset Management Partners acquired a new stake in shares of Coterra Energy in the fourth quarter worth $33,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Coterra Energy in the fourth quarter worth $33,000. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy in the first quarter worth $44,000. Harbor Investment Advisory LLC grew its stake in shares of Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Coterra Energy in the first quarter worth $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.2 %

CTRA stock traded up $0.06 during midday trading on Friday, reaching $25.78. The stock had a trading volume of 4,015,303 shares, compared to its average volume of 4,993,731. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.52 and a beta of 0.24. Coterra Energy Inc. has a twelve month low of $23.73 and a twelve month high of $29.89. The business has a fifty day simple moving average of $27.10 and a two-hundred day simple moving average of $26.72. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, research analysts expect that Coterra Energy Inc. will post 2.01 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.26%. Coterra Energy’s dividend payout ratio is presently 48.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CTRA shares. Citigroup raised their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Barclays started coverage on Coterra Energy in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Truist Financial reduced their target price on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets raised Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.94.

About Coterra Energy

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.