Coterra Energy Inc. (NYSE:CTRA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in Coterra Energy Inc. (NYSE:CTRA) by 1.6% in the fourth quarter, Holdings Channel reports. The firm owned 416,156 shares of the company’s stock after selling 6,830 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Coterra Energy were worth $10,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Schroder Investment Management Group lifted its position in Coterra Energy by 21.7% during the 3rd quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock worth $194,422,000 after acquiring an additional 1,281,094 shares during the period. AQR Capital Management LLC lifted its position in Coterra Energy by 60.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock worth $52,376,000 after acquiring an additional 729,306 shares during the period. Envestnet Asset Management Inc. lifted its position in Coterra Energy by 47.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock worth $60,803,000 after acquiring an additional 720,464 shares during the period. Victory Capital Management Inc. lifted its position in Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after acquiring an additional 544,768 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in Coterra Energy by 59.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock worth $39,347,000 after acquiring an additional 541,518 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial decreased their price objective on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Mizuho reissued a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a report on Wednesday, April 3rd. Barclays initiated coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target for the company. Stifel Nicolaus reduced their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Raymond James raised their price target on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Price Performance

NYSE CTRA traded down $0.01 during mid-day trading on Thursday, hitting $28.45. The stock had a trading volume of 4,417,473 shares, compared to its average volume of 6,815,789. Coterra Energy Inc. has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a market cap of $21.39 billion, a price-to-earnings ratio of 13.25 and a beta of 0.21. The company has a 50 day simple moving average of $26.95 and a 200 day simple moving average of $26.42. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. Equities analysts forecast that Coterra Energy Inc. will post 1.87 EPS for the current fiscal year.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 2.95%. Coterra Energy’s dividend payout ratio (DPR) is presently 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.