Coterra Energy Inc. $CTRA Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,275,831 shares of the company’s stock after buying an additional 116,714 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Coterra Energy worth $32,381,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jump Financial LLC lifted its holdings in shares of Coterra Energy by 64.4% during the 2nd quarter. Jump Financial LLC now owns 32,498 shares of the company’s stock valued at $825,000 after acquiring an additional 12,731 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Coterra Energy by 72.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,537 shares of the company’s stock valued at $141,000 after buying an additional 2,328 shares during the last quarter. Channing Capital Management LLC acquired a new position in shares of Coterra Energy in the second quarter worth about $3,470,000. 1832 Asset Management L.P. lifted its stake in shares of Coterra Energy by 6.9% in the second quarter. 1832 Asset Management L.P. now owns 77,805 shares of the company’s stock worth $1,975,000 after acquiring an additional 5,047 shares in the last quarter. Finally, CW Advisors LLC boosted its holdings in Coterra Energy by 27.2% in the second quarter. CW Advisors LLC now owns 98,895 shares of the company’s stock valued at $2,510,000 after purchasing an additional 21,147 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA opened at $27.04 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $25.05 and its 200 day moving average price is $24.75. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $29.95. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.45 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $1.82 billion during 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 quarter in the previous year, the firm earned $0.32 earnings per share. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio is presently 40.55%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CTRA shares. Susquehanna dropped their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, October 20th. William Blair began coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target for the company. Raymond James Financial upped their price target on shares of Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Wells Fargo & Company raised their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Siebert Williams Shank cut their target price on shares of 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 investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $32.86.

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.