Retirement Systems of Alabama Reduces Position in Coterra Energy Inc. (NYSE:CTRA)

Retirement Systems of Alabama cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 158,253 shares of the company’s stock after selling 1,232 shares during the quarter. Retirement Systems of Alabama’s holdings in Coterra Energy were worth $4,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CTRA. Sterling Capital Management LLC lifted its holdings in shares of Coterra Energy by 5,744.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after buying an additional 3,599,042 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Coterra Energy by 117.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after buying an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Coterra Energy in the fourth quarter worth about $61,461,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Coterra Energy in the fourth quarter worth about $57,877,000. Finally, Man Group plc lifted its holdings in shares of Coterra Energy by 81.4% in the fourth quarter. Man Group plc now owns 4,842,621 shares of the company’s stock worth $123,681,000 after buying an additional 2,172,931 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.4%

CTRA stock opened at $26.82 on Wednesday. The company has a market capitalization of $20.47 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.34. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company’s 50 day moving average price is $25.20 and its two-hundred day moving average price is $26.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business’s revenue was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. As a group, analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 51.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTRA. Piper Sandler lowered their price target on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Scotiabank lowered their price target on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Mizuho lowered their price target on shares of Coterra Energy from $38.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.30.

Coterra Energy 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.