Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,724 shares of the company’s stock after acquiring an additional 1,503 shares during the quarter. Arizona State Retirement System’s holdings in Coterra Energy were worth $5,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. City State Bank acquired a new stake in Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc increased its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC increased its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Up 2.3 %

Coterra Energy stock opened at $26.10 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm’s 50 day moving average price is $27.63 and its two-hundred day moving average price is $25.56.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.37%. Coterra Energy’s payout ratio is 58.28%.

Analysts Set New Price Targets

Several equities research analysts have commented on CTRA shares. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays raised their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Morgan Stanley raised their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, UBS Group increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.63.

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.