Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,888 shares of the company’s stock after selling 2,117 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Coterra Energy were worth $524,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CTRA. Fortitude Family Office LLC grew its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the third quarter worth approximately $57,000. Tobam acquired a new stake in shares of Coterra Energy during the third quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 2.1 %

Coterra Energy stock opened at $26.12 on Tuesday. The firm has a market capitalization of $19.24 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.67 and a beta of 0.22. The company has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $25.45. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. As a group, equities analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.22%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTRA shares. Wells Fargo & Company raised their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial lifted their price target on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. UBS Group boosted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley increased their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.41.

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.