Maryland State Retirement & Pension System Decreases Holdings in Coterra Energy Inc. (NYSE:CTRA)

Maryland State Retirement & Pension System trimmed its stake in Coterra Energy Inc. (NYSE:CTRA) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,976 shares of the company’s stock after selling 3,451 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Coterra Energy were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTRA. City State Bank bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc grew its stake in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Coterra Energy during the 4th quarter valued at $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy during the 4th quarter worth $43,000. 87.92% of the stock is owned by institutional investors.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CTRA shares. Barclays increased their target price on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. The Goldman Sachs Group raised their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Mizuho upped their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Raymond James decreased their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Finally, Citigroup boosted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $34.30.

Coterra Energy Price Performance

Shares of CTRA stock opened at $28.73 on Monday. 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 $21.95 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.59 and a beta of 0.26. The business’s 50 day moving average price is $27.94 and its 200-day moving average price is $25.85. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.06%. Coterra Energy’s dividend payout ratio is 58.28%.

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.