Coterra Energy Inc. (NYSE:CTRA) Holdings Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 17.5% in the fourth quarter, HoldingsChannel reports. The firm owned 302,501 shares of the company’s stock after purchasing an additional 45,040 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coterra Energy were worth $7,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Beacon Investment Advisors LLC boosted its position in shares of Coterra Energy by 0.7% in the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock valued at $1,689,000 after purchasing an additional 422 shares during the period. Stone House Investment Management LLC lifted its stake in Coterra Energy by 32.4% in the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after acquiring an additional 438 shares in the last quarter. SouthState Corp lifted its stake in Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after acquiring an additional 454 shares in the last quarter. Trust Co. of Vermont lifted its stake in Coterra Energy by 1.9% in the 3rd quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after acquiring an additional 503 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake in Coterra Energy by 0.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 58,913 shares of the company’s stock worth $1,594,000 after acquiring an additional 523 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the subject of several research analyst reports. Stephens reissued an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a research note on Tuesday, January 23rd. Barclays started coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price objective for the company. Susquehanna raised their price target on Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Monday. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Stock Up 0.7 %

Shares of CTRA stock opened at $28.14 on Wednesday. The stock’s 50 day simple moving average is $26.86 and its 200 day simple moving average is $26.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. Coterra Energy Inc. has a twelve month low of $22.91 and a twelve month high of $29.89. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 13.15 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, research analysts predict that Coterra Energy Inc. will post 1.88 EPS for the current year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.99%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

About Coterra Energy

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.