Strs Ohio Makes New $1.60 Million Investment in Coterra Energy Inc. $CTRA

Key Points

• Strs Ohio has acquired 55,369 shares of Coterra Energy Inc. valued at approximately $1.6 million in the first quarter.
• Multiple institutional investors, including Cornerstone Planning Group and Raleigh Capital Management, have significantly increased their stakes in Coterra Energy during the same period.
• Coterra Energy announced a quarterly dividend of $0.22 per share, representing a 3.6% yield, and reported a revenue increase of 54.6% year-over-year.

Strs Ohio acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55,369 shares of the company's stock, valued at approximately $1,600,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Donald L. Hagan LLC increased its position in Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after purchasing an additional 401 shares during the last quarter. Investors Research Corp increased its position in Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after purchasing an additional 408 shares during the last quarter. Saxon Interests Inc. boosted its stake in Coterra Energy by 5.1% during the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock worth $269,000 after buying an additional 451 shares during the period. Tectonic Advisors LLC boosted its stake in Coterra Energy by 3.2% during the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock worth $429,000 after buying an additional 459 shares during the period. Finally, Procyon Advisors LLC boosted its stake in Coterra Energy by 3.6% during the first quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after buying an additional 469 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CTRA shares. Raymond James Financial reissued an "outperform" rating and issued a $34.00 price objective (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. The Goldman Sachs Group reissued a "neutral" rating and set a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Barclays raised their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Piper Sandler raised their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company lifted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.22.

Coterra Energy Price Performance

NYSE CTRA traded down $0.81 during midday trading on Friday, hitting $23.28. The company had a trading volume of 17,897,680 shares, compared to its average volume of 5,012,900. Coterra Energy Inc. has a twelve month low of $22.46 and a twelve month high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $24.03 and a 200-day moving average price of $25.23. The company has a market capitalization of $17.77 billion, a PE ratio of 11.14, a P/E/G ratio of 0.34 and a beta of 0.34.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The business's revenue was up 54.6% on a year-over-year basis. As a group, analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy's dividend payout ratio is 42.11%.

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.