Kentucky Retirement Systems Has $1.59 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 5.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,124 shares of the company’s stock after selling 3,059 shares during the period. Kentucky Retirement Systems’ holdings in Coterra Energy were worth $1,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $33,000. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $44,000. Harbor Investment Advisory LLC raised its holdings in shares of Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Coterra Energy in the first quarter valued at approximately $47,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded up $0.06 during trading on Friday, reaching $25.78. The company’s stock had a trading volume of 4,015,303 shares, compared to its average volume of 4,993,731. The business’s 50-day moving average price is $27.10 and its 200-day moving average price is $26.72. The firm has a market cap of $19.19 billion, a PE ratio of 14.90, a P/E/G ratio of 1.52 and a beta of 0.24. Coterra Energy Inc. has a 52 week low of $23.73 and a 52 week high of $29.89. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. Equities analysts forecast that Coterra Energy Inc. will post 2.01 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.26%. The ex-dividend date was Wednesday, May 15th. Coterra Energy’s payout ratio is 48.55%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Truist Financial lowered their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Susquehanna boosted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, May 7th. BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, Wolfe Research assumed coverage on shares of Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.94.

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.