State of New Jersey Common Pension Fund D Lowers Stock Position in Coterra Energy Inc. (NYSE:CTRA)

State of New Jersey Common Pension Fund D reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,156 shares of the company’s stock after selling 6,830 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Coterra Energy worth $10,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CTRA. Schroder Investment Management Group raised its stake in Coterra Energy by 21.7% in the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after purchasing an additional 1,281,094 shares in the last quarter. AQR Capital Management LLC grew its position in Coterra Energy by 60.4% during the third quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after acquiring an additional 729,306 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Coterra Energy by 47.2% during the third quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock valued at $60,803,000 after acquiring an additional 720,464 shares during the last quarter. Victory Capital Management Inc. grew its position in Coterra Energy by 3.5% during the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after acquiring an additional 544,768 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Coterra Energy by 59.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock valued at $39,347,000 after acquiring an additional 541,518 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coterra Energy

In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated 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 completion of the transaction, 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 SEC, which is available through the SEC website. In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was 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 of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated 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 completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

CTRA has been the topic of a number of recent research reports. Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research report on Wednesday, April 3rd. Susquehanna raised their target price on shares of Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Monday. Morgan Stanley raised their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Barclays started coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Stock Down 0.0 %

Coterra Energy stock traded down $0.01 on Thursday, hitting $28.45. 4,417,473 shares of the stock traded hands, compared to its average volume of 6,815,789. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The firm has a market cap of $21.39 billion, a P/E ratio of 13.25 and a beta of 0.21. The business’s fifty day simple moving average is $26.95 and its 200 day simple moving average is $26.42. Coterra Energy Inc. has a 1 year low of $22.91 and a 1 year high of $29.89.

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

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is currently 39.25%.

Coterra Energy Company 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.