Illinois Municipal Retirement Fund Purchases 45,040 Shares of Coterra Energy Inc. (NYSE:CTRA)

Illinois Municipal Retirement Fund increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 17.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 302,501 shares of the company’s stock after purchasing an additional 45,040 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coterra Energy were worth $7,720,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Foster & Motley Inc. lifted its holdings in Coterra Energy by 63.4% during the 4th quarter. Foster & Motley Inc. now owns 31,055 shares of the company’s stock worth $793,000 after purchasing an additional 12,044 shares in the last quarter. Significant Wealth Partners LLC purchased a new stake in shares of Coterra Energy in the 4th quarter valued at about $1,604,000. OLD National Bancorp IN raised its holdings in shares of Coterra Energy by 0.8% in the 4th quarter. OLD National Bancorp IN now owns 304,701 shares of the company’s stock valued at $7,776,000 after acquiring an additional 2,503 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Coterra Energy by 2.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 107,419 shares of the company’s stock valued at $2,741,000 after acquiring an additional 2,659 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its holdings in shares of Coterra Energy by 7.5% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 33,025 shares of the company’s stock valued at $843,000 after acquiring an additional 2,313 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

NYSE:CTRA opened at $28.14 on Wednesday. Coterra Energy Inc. has a 12 month low of $22.91 and a 12 month high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average is $26.86 and its 200 day moving average is $26.41. The company has a market capitalization of $21.15 billion, a P/E ratio of 13.15 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.88 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is presently 39.25%.

Insider Transactions at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CTRA shares. Stifel Nicolaus reduced their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Bank of America upgraded Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, January 5th. JPMorgan Chase & Co. boosted their price target on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Stephens restated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research note on Tuesday, January 23rd. Finally, Raymond James boosted their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.47.

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.