Illinois Municipal Retirement Fund Holds $5.39 Million Position in Coterra Energy (NYSE:CTRA)


The Illinois Municipal Retirement Fund increased its stake in Coterra Energy Inc. (NYSE: CTRA – Get Rating) by 48.6% in the fourth quarter, according to the latest Securities and Exchange Commission filings. The fund owned 219,307 shares of the company after purchasing an additional 71,676 shares during the period. The Illinois Municipal Retirement Fund’s holdings in Coterra Energy were valued at $5,388,000 as of the latest SEC filing.

Other institutional investors and hedge funds have also recently changed positions in the company. OLD National Bancorp IN increased his position in Coterra Energy by 9.4% in the fourth quarter. OLD National Bancorp IN now owns 196,360 shares of the company worth $4,825,000 after purchasing an additional 16,920 shares during this period. Securian Asset Management Inc. increased his Coterra Energy stock position by 2.7% in the fourth quarter. Securian Asset Management Inc. now owns 66,604 shares worth $1,636,000 after he purchased an additional 1,768 shares during this period. Sepio Capital LP acquired a new stake in his Coterra Energy worth $2,994,000 in the fourth quarter. Beddow Capital Management Inc. raised its stake in Coterra Energy by 10.5% in the fourth quarter. Beddow Capital Management Inc. now owns 252,997 shares worth $6,216,000 after purchasing an additional 23,965 shares during the previous quarter. Finally, Navellier & Associates Inc. increased its holding of Coterra Energy by 2.9% in the fourth quarter. Navellier & Associates Inc. now owns 249,128 shares worth $6,121,000 after purchasing an additional 6,969 shares during this period. Institutional investors and hedge funds own 94.72% of the company’s shares.

Coterra Energy shares drop 0.4%

NYSE:CTRA shares opened at $25.46 on Friday. His 50-day moving average for this business is $24.75 and his 200-day moving average is $25.97. Coterra Energy Inc. hit a 12-month low of $22.25 and a 12-month high of $36.55. The stock has a market capitalization of $19.49 billion, a price/earnings ratio of 4.98, a PEG ratio of 0.19, and a beta of 0.25. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt to equity ratio of 0.17.

Coterra Energy (NYSE:CTRA – Get Rating) last published its quarterly earnings data on Wednesday, Feb. 22. The company posted his earnings per share of $1.14 for the quarter, beating consensus expectations of $1.10 by $0.04. The business generated $2.28 billion in revenue for the quarter, compared with analyst estimates of $2.15 billion. Coterra Energy’s return on equity was 31.29% and net profit margin was 44.91%. On average, sell-side analysts expect Coterra Energy Inc. to post his earnings per share of 2.47 for the current financial year.

Coterra Energy Cuts Dividend

The company recently announced a quarterly dividend, which was paid out on Thursday, March 30. A dividend of $0.57 was issued to shareholders of record on Thursday, March 16. This represents his $2.28 dividend and his 8.96% dividend yield on an annualized basis. The ex-dividend date was Wednesday, March 15. Coterra Energy’s dividend payout ratio is currently 15.66%.

Analyst sets new price target

Several research analysts have recently taken note of the CTRA stock. Roth Capital reissued a ‘neutral’ rating to Coterra Energy shares in a research report on Wednesday, February 22nd. Morgan Stanley cut Cotera Energy’s price target from $28.00 to $26.00, giving the company an “equal weight” rating in a report on Monday, March 27. Piper Sandler lowered Coterra Energy’s price target to $30.00 from her $32.00 in a report on Tuesday, March 7, giving the stock a “neutral” rating. Wells Fargo & Company lowered its price target for Coterra Energy stock from $28.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, March 9. Finally, Barclays raised its price target on Cotera Energy shares from $26.00 to $30.00, giving the company an ‘equal weight’ rating in its research report on Friday 17 March. Eighteen equity research analysts rated the stock with a hold rating and three gave the company a buy rating. According to MarketBeat, the company has a consensus rating of “hold” and an average target price of $30.18.

Insider activity at Coterra Energy

In another Coterra Energy news, Vice President Michael D. Deshazer sold 20,824 shares of the business in a transaction on Tuesday, March 21. The shares sold at an average price of $24.10, giving him a total of $501,858.40. After the transaction, Vice President now owns 77,406 shares of the Company’s stock valued at $1,865,484.60. The transaction is disclosed in legal filings with the SEC, which can be accessed on his website. His 1.70% of the shares are now owned by insiders.

Cotera Energy Profile

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Coterra Energy Inc is a diversified energy company engaged in the exploration, development and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, Marcellus Shale and Anadarko Basin. The company changed its name to Coterra Energy Inc on October 1, 2021 in connection with a merger involving Cabot Oil & Gas Corp.

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Coterra Energy (NYSE:CTRA) Quarterly Institutional Ownership

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