Public Employees Retirement System of Ohio Sells 12,143 Shares of Coterra Energy Inc. (NYSE:CTRA)

Public Employees Retirement System of Ohio reduced its holdings in Coterra Energy Inc. (NYSE:CTRA) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 283,320 shares of the company’s stock after selling 12,143 shares during the period. Public Employees Retirement System of Ohio’s holdings in Coterra Energy were worth $6,786,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Larson Financial Group LLC lifted its stake in shares of Coterra Energy by 98.0% in the second 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 period. Values First Advisors Inc. acquired a new position in Coterra Energy in the 3rd quarter valued at approximately $57,000. Tobam bought a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $63,000. Capital Performance Advisors LLP acquired a new stake in shares of Coterra Energy during the 3rd quarter worth approximately $67,000. Finally, Family Firm Inc. bought a new stake in shares of Coterra Energy during the second quarter valued at approximately $68,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.33 on Friday. The stock has a 50-day simple moving average of $25.00 and a 200 day simple moving average of $25.24. The stock has a market capitalization of $18.65 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.64 and a beta of 0.27. The company has a quick ratio of 1.56, a current ratio of 1.61 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.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.32%. Coterra Energy’s payout ratio is currently 50.60%.

Analysts Set New Price Targets

Several brokerages have issued reports on CTRA. Citigroup boosted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Piper Sandler raised their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. cut their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

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.