Louisiana State Employees Retirement System Makes New Investment in Coterra Energy Inc. (NYSE:CTRA)

Louisiana State Employees Retirement System acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 45,500 shares of the company’s stock, valued at approximately $1,161,000.

Several other institutional investors also recently bought and sold shares of the business. Beacon Investment Advisors LLC grew its stake in Coterra Energy by 0.7% during the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after buying an additional 422 shares during the period. SouthState Corp boosted its stake in shares of Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the period. Trust Co. of Vermont boosted its stake in shares of Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after purchasing an additional 503 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of Coterra Energy by 0.9% in the third quarter. Miller Howard Investments Inc. NY now owns 58,913 shares of the company’s stock valued at $1,594,000 after purchasing an additional 523 shares during the period. Finally, Cascade Investment Advisors Inc. boosted its stake in shares of Coterra Energy by 1.1% in the fourth quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock valued at $1,305,000 after purchasing an additional 535 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Up 0.7 %

Shares of NYSE:CTRA opened at $28.14 on Wednesday. The stock has a market capitalization of $21.15 billion, a price-to-earnings ratio of 13.15 and a beta of 0.21. Coterra Energy Inc. has a 1-year low of $22.91 and a 1-year high of $29.89. The company’s fifty day moving average is $26.86 and its two-hundred day moving average is $26.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Equities analysts anticipate that Coterra Energy Inc. will post 1.93 EPS for the current year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Mizuho restated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research note on Wednesday, April 3rd. Morgan Stanley upped their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Truist Financial cut their price target on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Finally, Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Company Profile

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.