Coterra Energy Inc. (NYSE:CTRA) Holdings Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 330,423 shares of the company's stock after acquiring an additional 20,391 shares during the quarter. New York State Common Retirement Fund's holdings in Coterra Energy were worth $9,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new position in shares of Coterra Energy in the fourth quarter valued at $942,000. State of Tennessee Department of Treasury raised its position in shares of Coterra Energy by 7.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company's stock worth $12,075,000 after purchasing an additional 31,425 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Coterra Energy during the fourth quarter worth $641,000. Intech Investment Management LLC lifted its holdings in shares of Coterra Energy by 56.7% during the fourth quarter. Intech Investment Management LLC now owns 67,858 shares of the company's stock valued at $1,733,000 after purchasing an additional 24,560 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after purchasing an additional 8,726 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Pickering Energy Partners lowered shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Wells Fargo & Company reduced their price target on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, July 1st. Finally, Raymond James Financial set a $38.00 target price on Coterra Energy and gave the company an "outperform" rating in a report on Friday, June 13th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.16.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.38 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company's fifty day moving average is $25.30 and its 200-day moving average is $26.43. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.61%. Coterra Energy's payout ratio is presently 51.16%.

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.

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