Public Employees Retirement Association of Colorado Sells 4,130 Shares of Coterra Energy Inc. (NYSE:CTRA)

Public Employees Retirement Association of Colorado lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 84,360 shares of the company’s stock after selling 4,130 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Coterra Energy were worth $2,352,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new stake in Coterra Energy in the fourth quarter worth $33,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Coterra Energy in the 4th quarter valued at about $33,000. Central Pacific Bank Trust Division bought a new position in Coterra Energy in the first quarter worth approximately $44,000. Harbor Investment Advisory LLC grew its stake in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.0 %

NYSE CTRA opened at $25.70 on Tuesday. The business’s fifty day moving average is $27.04 and its 200-day moving average is $26.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The stock has a market capitalization of $19.13 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.52 and a beta of 0.24. Coterra Energy Inc. has a one year low of $23.73 and a one year high of $29.89.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, May 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research reports. Morgan Stanley lifted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. upped their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Piper Sandler lifted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Truist Financial lowered their price objective on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup lifted their target price on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price 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.