Public Sector Pension Investment Board Purchases 4,475 Shares of Coterra Energy Inc. (NYSE:CTRA)

Public Sector Pension Investment Board grew its position in Coterra Energy Inc. (NYSE:CTRA) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,480 shares of the company’s stock after buying an additional 4,475 shares during the quarter. Public Sector Pension Investment Board’s holdings in Coterra Energy were worth $3,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares in the last quarter. TCW Group Inc. increased its position in Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after purchasing an additional 404 shares during the period. Redwood Wealth Management Group LLC raised its holdings in shares of Coterra Energy by 2.3% in the 1st quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after purchasing an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in shares of Coterra Energy by 0.7% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares during the period. Finally, Quent Capital LLC boosted its stake in shares of Coterra Energy by 8.1% during the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after purchasing an additional 445 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of recent research reports. Bank of America reissued a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research note on Friday, June 14th. Piper Sandler decreased their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. UBS Group cut their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Two equities 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.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.59.

Coterra Energy Price Performance

NYSE:CTRA opened at $23.74 on Friday. The firm’s fifty day moving average is $24.07 and its two-hundred day moving average is $26.30. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.37 and a beta of 0.22. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $0.38 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Research analysts expect that Coterra Energy Inc. will post 1.74 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

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.