Strs Ohio Decreases Position in Coterra Energy Inc. $CTRA

Strs Ohio lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 79.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,038 shares of the company’s stock after selling 69,707 shares during the quarter. Strs Ohio’s holdings in Coterra Energy were worth $427,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bogart Wealth LLC acquired a new stake in Coterra Energy in the second quarter valued at approximately $26,000. REAP Financial Group LLC boosted its stake in shares of Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after purchasing an additional 726 shares during the period. Tobam grew its holdings in Coterra Energy by 50.9% during the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after purchasing an additional 615 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Coterra Energy during the 2nd quarter worth $50,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Coterra Energy in the 3rd quarter worth $50,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $28.84 on Friday. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.82. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.36. The business has a 50 day simple moving average of $26.31 and a 200-day simple moving average of $24.90.

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

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.1%. Coterra Energy’s payout ratio is 40.55%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTRA. William Blair assumed coverage on Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 target price for the company. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Mizuho raised their price objective on Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Barclays dropped their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Finally, Piper Sandler decreased their price target on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.81.

Coterra Energy Company 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.