Retirement Systems of Alabama Sells 787 Shares of Coterra Energy Inc. (NYSE:CTRA)

Retirement Systems of Alabama lessened its holdings in Coterra Energy Inc. (NYSE:CTRA) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,382 shares of the company’s stock after selling 787 shares during the period. Retirement Systems of Alabama’s holdings in Coterra Energy were worth $3,913,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Holocene Advisors LP raised its position in Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after buying an additional 2,954,675 shares during the last quarter. Bank of Montreal Can lifted its stake in Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares in the last quarter. Weiss Asset Management LP purchased a new position in Coterra Energy during the 3rd quarter worth $28,380,000. Finally, Marshall Wace LLP grew its stake in shares of Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after acquiring an additional 1,127,399 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CTRA. Stephens raised their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. cut their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Susquehanna boosted their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.53.

Insider Activity

In related news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Coterra Energy Stock Down 0.3 %

CTRA opened at $23.67 on Friday. The company has a 50 day moving average of $24.97 and a 200 day moving average of $25.14. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a market cap of $17.44 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company 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 was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. On average, sell-side analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Coterra Energy 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.