New York State Common Retirement Fund Sells 19,391 Shares of Coterra Energy Inc. $CTRA

New York State Common Retirement Fund trimmed its position in Coterra Energy Inc. (NYSE:CTRA) by 5.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 315,532 shares of the company’s stock after selling 19,391 shares during the period. New York State Common Retirement Fund’s holdings in Coterra Energy were worth $7,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in shares of Coterra Energy by 67.0% in the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after buying an additional 57,461 shares during the last quarter. State of Michigan Retirement System boosted its stake in Coterra Energy by 5.8% in the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock valued at $6,204,000 after acquiring an additional 13,500 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Coterra Energy by 36.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after acquiring an additional 220,688 shares during the period. Resona Asset Management Co. Ltd. increased its stake in shares of Coterra Energy by 30.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock worth $7,486,000 after purchasing an additional 68,100 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Coterra Energy by 58.5% in the 2nd quarter. Strs Ohio now owns 87,745 shares of the company’s stock worth $2,227,000 after purchasing an additional 32,376 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $30.54 on Thursday. The company has a 50 day moving average of $26.49 and a 200 day moving average of $25.00. The stock has a market cap of $23.25 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.70 and a beta of 0.38. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $30.64. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research reports. Wolfe Research increased their price objective on Coterra Energy from $33.00 to $40.00 in a report on Tuesday. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the company a “neutral” rating in a research note on Tuesday. UBS Group increased their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Scotiabank restated a “sector perform” rating and set a $31.00 price target on shares of Coterra Energy in a research note on Tuesday. Finally, Johnson Rice cut their price objective on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Fourteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.40.

Coterra Energy Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.