Maryland State Retirement & Pension System Boosts Stake in Coterra Energy Inc. $CTRA

Maryland State Retirement & Pension System lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,665 shares of the company’s stock after purchasing an additional 2,543 shares during the period. Maryland State Retirement & Pension System’s holdings in Coterra Energy were worth $931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Saxon Interests Inc. boosted its holdings in Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock worth $269,000 after buying an additional 451 shares during the period. Tectonic Advisors LLC boosted its holdings in Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock worth $429,000 after buying an additional 459 shares during the period. Hartford Funds Management Co LLC boosted its holdings in Coterra Energy by 1.4% in the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock worth $1,020,000 after buying an additional 472 shares during the period. Horizon Investments LLC boosted its holdings in Coterra Energy by 4.5% in the 1st quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock worth $316,000 after buying an additional 474 shares during the period. Finally, Argonautica Private Wealth Management Inc. boosted its holdings in Coterra Energy by 4.0% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock worth $355,000 after buying an additional 477 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 3.6%

Shares of NYSE CTRA opened at $22.78 on Monday. The firm’s 50-day moving average price is $23.90 and its 200-day moving average price is $24.75. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.32 and a beta of 0.29. Coterra Energy Inc. has a 12-month low of $22.46 and a 12-month high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm’s quarterly revenue was up 54.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, equities research analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio is currently 42.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTRA. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. JPMorgan Chase & Co. increased their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Piper Sandler increased their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $33.06.

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.