State Board of Administration of Florida Retirement System Buys New Stake in Coterra Energy Inc. (NYSE:CTRA)

State Board of Administration of Florida Retirement System bought a new stake in Coterra Energy Inc. (NYSE:CTRAGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 962,765 shares of the company’s stock, valued at approximately $25,966,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTRA. Larson Financial Group LLC bought a new stake in Coterra Energy during the first quarter worth about $28,000. Joseph P. Lucia & Associates LLC bought a new stake in Coterra Energy during the first quarter worth about $32,000. Toth Financial Advisory Corp bought a new stake in Coterra Energy during the first quarter worth about $34,000. GPS Wealth Strategies Group LLC bought a new stake in Coterra Energy during the first quarter worth about $37,000. Finally, Selective Wealth Management Inc. bought a new stake in Coterra Energy during the first quarter worth about $40,000. Institutional investors own 93.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Coterra Energy from $29.00 to $41.00 in a research note on Thursday, April 21st. Susquehanna Bancshares cut shares of Coterra Energy from a “positive” rating to a “neutral” rating and increased their price target for the company from $26.00 to $32.00 in a research note on Monday, April 25th. Mizuho decreased their price target on shares of Coterra Energy from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Barclays decreased their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Finally, Citigroup cut shares of Coterra Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $40.00 to $27.00 in a research note on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.07.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, EVP Stephen P. Bell sold 36,327 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $35.41, for a total value of $1,286,339.07. Following the completion of the transaction, the executive vice president now directly owns 351,436 shares of the company’s stock, valued at $12,444,348.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Stephen P. Bell sold 36,327 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $35.41, for a total value of $1,286,339.07. Following the sale, the executive vice president now directly owns 351,436 shares in the company, valued at $12,444,348.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Francis Brian Barron sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $33.52, for a total value of $335,200.00. Following the completion of the sale, the senior vice president now owns 281,212 shares in the company, valued at $9,426,226.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,327 shares of company stock valued at $3,213,039. Company insiders own 1.60% of the company’s stock.

Coterra Energy Stock Up 2.0 %

NYSE:CTRA opened at $27.93 on Friday. Coterra Energy Inc. has a 1 year low of $14.28 and a 1 year high of $36.55. The company has a current ratio of 1.80, a quick ratio of 1.54 and a debt-to-equity ratio of 0.24. The stock has a market cap of $22.22 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.11 and a beta of 0.07. The stock has a 50-day moving average price of $29.28 and a two-hundred day moving average price of $27.47.

Coterra Energy (NYSE:CTRAGet Rating) last posted its earnings results on Tuesday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Coterra Energy had a return on equity of 28.44% and a net margin of 41.04%. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, equities analysts expect that Coterra Energy Inc. will post 4.62 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Monday, August 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.15%. Coterra Energy’s payout ratio is 16.67%.

About Coterra Energy

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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Institutional Ownership by Quarter for Coterra Energy (NYSE:CTRA)

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