Teacher Retirement System of Texas Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Teacher Retirement System of Texas purchased a new stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 107,691 shares of the company's stock, valued at approximately $3,112,000.

A number of other hedge funds have also bought and sold shares of the stock. Investors Research Corp boosted its holdings 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 buying an additional 408 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in Coterra Energy during the fourth quarter valued at $46,000. Alpine Bank Wealth Management purchased a new position in Coterra Energy during the first quarter valued at $47,000. Nemes Rush Group LLC purchased a new position in Coterra Energy during the fourth quarter valued at $48,000. Finally, Optiver Holding B.V. purchased a new position in Coterra Energy during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Trading Up 0.8%

CTRA stock traded up $0.20 during mid-day trading on Friday, hitting $25.30. 5,594,685 shares of the company were exchanged, compared to its average volume of 6,529,733. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $19.31 billion, a P/E ratio of 14.71, a PEG ratio of 0.35 and a beta of 0.35. The business has a fifty day simple moving average of $25.19 and a 200-day simple moving average of $26.44. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

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

Coterra Energy Announces Dividend

The business also recently announced 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 yield of 3.48%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent analyst reports. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Mizuho decreased their price objective 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. Bank of America decreased their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. UBS Group decreased their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Piper Sandler reduced their target price on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Coterra Energy Company 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.