Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 107,419 shares of the company’s stock after acquiring an additional 2,659 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coterra Energy were worth $2,741,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Coterra Energy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after acquiring an additional 235,636 shares during the period. Victory Capital Management Inc. increased its stake in Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after buying an additional 544,768 shares during the period. Invesco Ltd. increased its stake in Coterra Energy by 1.5% during the 3rd quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock worth $290,075,000 after buying an additional 161,776 shares during the period. Northern Trust Corp increased its stake in Coterra Energy by 2.3% during the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock worth $245,725,000 after buying an additional 201,520 shares during the period. Finally, Morgan Stanley increased its stake in Coterra Energy by 5.9% during the 3rd quarter. Morgan Stanley now owns 8,421,481 shares of the company’s stock worth $227,801,000 after buying an additional 466,511 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTRA. Barclays began coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Stifel Nicolaus cut their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Susquehanna upped their target price on shares of Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Monday. Mizuho reissued a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Wednesday, April 3rd. Finally, Truist Financial dropped their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Trading Up 0.7 %

Shares of Coterra Energy stock opened at $28.14 on Wednesday. The company has a fifty day simple moving average of $26.86 and a 200-day simple moving average of $26.41. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 13.15 and a beta of 0.21.

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

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.21 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.99%. Coterra Energy’s dividend payout ratio is presently 39.25%.

Insider Activity

In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

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.