New York State Teachers Retirement System Sells 53,104 Shares of Coterra Energy Inc. $CTRA

Key Points

• The New York State Teachers Retirement System trimmed its stake in Coterra Energy by 6.5%, selling 53,104 shares and now holds 764,792 shares (~0.10% of the company, valued at $20.13M).
• Institutional ownership is high at 87.92%, with sizable recent increases from Davis Selected Advisers (+112.9% to 19.88M shares) and Vanguard (+4.0% to 98.99M shares), indicating strong institutional interest.
• Coterra pays a quarterly dividend of $0.22 (annualized $0.88, ~2.5% yield), has a market cap of $26.88B and a P/E of 15.5, and analysts’ consensus is a "Moderate Buy" with an average target of $37.32.

New York State Teachers Retirement System reduced its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 764,792 shares of the company's stock after selling 53,104 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Coterra Energy worth $20,129,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Davis Selected Advisers lifted its position in shares of Coterra Energy by 112.9% during the 3rd quarter. Davis Selected Advisers now owns 19,883,481 shares of the company's stock valued at $470,244,000 after acquiring an additional 10,545,340 shares during the period. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock valued at $2,341,151,000 after acquiring an additional 3,781,606 shares during the period. AQR Capital Management LLC lifted its position in shares of Coterra Energy by 287.7% during the 3rd quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company's stock valued at $108,154,000 after acquiring an additional 3,393,697 shares during the period. HITE Hedge Asset Management LLC lifted its position in shares of Coterra Energy by 308.9% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company's stock valued at $55,883,000 after acquiring an additional 1,784,967 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Coterra Energy by 17.6% during the 3rd quarter. Invesco Ltd. now owns 11,744,004 shares of the company's stock valued at $277,746,000 after acquiring an additional 1,758,859 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

CTRA opened at $35.40 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The company's fifty day moving average price is $32.90 and its two-hundred day moving average price is $28.71. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $36.88. The company has a market cap of $26.88 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.52 and a beta of 0.33.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.5%. Coterra Energy's dividend payout ratio is presently 38.60%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. Texas Capital downgraded shares of Coterra Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. Siebert Williams Shank downgraded shares of Coterra Energy from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. Wolfe Research boosted their target price on shares of Coterra Energy from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Finally, Piper Sandler boosted their target price on shares of Coterra Energy from $41.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and an average target price of $37.32.

About Coterra Energy

Coterra Energy NYSE: CTRA is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.

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