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

New York State Common Retirement Fund cut its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 315,532 shares of the company’s stock after selling 19,391 shares during the quarter. New York State Common Retirement Fund’s holdings in Coterra Energy were worth $7,462,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CTRA. AustralianSuper Pty Ltd purchased a new position in shares of Coterra Energy during the third quarter worth approximately $4,609,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Coterra Energy by 3.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 816,085 shares of the company’s stock valued at $19,300,000 after buying an additional 30,250 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Coterra Energy by 34.0% during the third quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company’s stock valued at $162,370,000 after buying an additional 1,741,125 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Coterra Energy in the third quarter worth about $1,490,000. Finally, Truist Financial Corp lifted its stake in shares of Coterra Energy by 11.1% in the 3rd quarter. Truist Financial Corp now owns 4,681,093 shares of the company’s stock valued at $110,708,000 after acquiring an additional 467,778 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Johnson Rice lowered their price objective on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Siebert Williams Shank increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, January 26th. UBS Group raised their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, December 12th. William Blair began coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, Roth Mkm set a $28.00 price target on Coterra Energy and gave the company a “neutral” rating in a report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $33.40.

Coterra Energy Stock Performance

Shares of CTRA opened at $30.54 on Thursday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $30.64. 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. The business’s 50 day moving average price is $26.49 and its 200-day moving average price is $25.00. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. Equities research analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

About Coterra Energy

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.