New York State Teachers Retirement System Sells 13,107 Shares of Coterra Energy Inc. (NYSE:CTRA)

New York State Teachers Retirement System lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 857,270 shares of the company’s stock after selling 13,107 shares during the period. New York State Teachers Retirement System owned about 0.12% of Coterra Energy worth $20,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Coterra Energy by 7.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,751 shares of the company’s stock valued at $997,000 after purchasing an additional 2,403 shares during the period. SeaCrest Wealth Management LLC raised its stake in Coterra Energy by 6.9% during the first quarter. SeaCrest Wealth Management LLC now owns 8,506 shares of the company’s stock worth $237,000 after acquiring an additional 549 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Coterra Energy by 0.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,692 shares of the company’s stock valued at $56,086,000 after acquiring an additional 10,001 shares during the period. Norden Group LLC acquired a new stake in shares of Coterra Energy in the 1st quarter valued at $2,827,000. Finally, Kovack Advisors Inc. bought a new stake in shares of Coterra Energy in the 1st quarter worth about $237,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 5.1 %

Shares of NYSE CTRA opened at $22.71 on Friday. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm has a market capitalization of $16.79 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.49 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The company’s 50 day simple moving average is $23.82 and its 200 day simple moving average is $25.73.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts predict that Coterra Energy Inc. will post 1.62 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is 48.00%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CTRA shares. Truist Financial cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. reduced their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Wolfe Research started coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Stephens lifted their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company decreased their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.24.

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.