Sumitomo Mitsui Trust Holdings Inc. Sells 103,425 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Coterra Energy Inc. (NYSE:CTRA) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,001,691 shares of the company’s stock after selling 103,425 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of Coterra Energy worth $51,083,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CTRA. Freedom Day Solutions LLC increased its position in shares of Coterra Energy by 9.1% during the fourth quarter. Freedom Day Solutions LLC now owns 64,836 shares of the company’s stock worth $1,655,000 after acquiring an additional 5,432 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Coterra Energy during the fourth quarter worth $1,161,000. MV Capital Management Inc. increased its position in shares of Coterra Energy by 21.6% during the fourth quarter. MV Capital Management Inc. now owns 5,335 shares of the company’s stock worth $136,000 after acquiring an additional 946 shares in the last quarter. Simplicity Solutions LLC increased its position in shares of Coterra Energy by 59.8% during the fourth quarter. Simplicity Solutions LLC now owns 28,944 shares of the company’s stock worth $739,000 after acquiring an additional 10,836 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy during the fourth quarter worth $33,000. Institutional investors own 87.92% of the company’s stock.

Insider Activity

In other news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTRA. UBS Group increased 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. Barclays began coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price for the company. Piper Sandler increased their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday. Susquehanna upgraded shares of Coterra Energy from a “neutral” rating to a “positive” rating and reduced their target price for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Finally, Scotiabank increased their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $27.75 on Friday. The stock has a market cap of $20.86 billion, a P/E ratio of 12.97 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The company has a fifty day moving average price of $26.64 and a two-hundred day moving average price of $26.37. Coterra Energy Inc. has a one year low of $22.91 and a one year high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, equities analysts predict that Coterra Energy Inc. will post 1.93 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.03%. Coterra Energy’s dividend payout ratio is presently 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.