State Board of Administration of Florida Retirement System Acquires 11,360 Shares of Coterra Energy Inc. $CTRA

State Board of Administration of Florida Retirement System lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 860,863 shares of the company’s stock after purchasing an additional 11,360 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Coterra Energy were worth $21,849,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers increased its stake in Coterra Energy by 7.1% during the 1st quarter. Cetera Investment Advisers now owns 178,462 shares of the company’s stock worth $5,158,000 after acquiring an additional 11,800 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Coterra Energy during the 1st quarter worth $29,000. Natixis Advisors LLC increased its position in shares of Coterra Energy by 4.1% in the first quarter. Natixis Advisors LLC now owns 415,152 shares of the company’s stock worth $11,998,000 after purchasing an additional 16,319 shares during the period. MONECO Advisors LLC raised its stake in Coterra Energy by 6.8% in the first quarter. MONECO Advisors LLC now owns 19,330 shares of the company’s stock valued at $559,000 after purchasing an additional 1,230 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Coterra Energy by 5.8% in the first quarter. PNC Financial Services Group Inc. now owns 334,489 shares of the company’s stock valued at $9,667,000 after purchasing an additional 18,445 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Up 1.7%

NYSE CTRA opened at $26.84 on Monday. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $29.95. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $24.51 and its 200 day moving average is $24.61.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company earned $0.32 EPS. Coterra Energy’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a yield of 3.3%. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

Analyst Ratings Changes

CTRA has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Coterra Energy in a report on Wednesday, November 19th. Morgan Stanley lowered their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Stephens reduced their target price on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. UBS Group lifted their price target on Coterra Energy from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Finally, Siebert Williams Shank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Seventeen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

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.