Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 107,419 shares of the company’s stock after acquiring an additional 2,659 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coterra Energy were worth $2,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. SouthState Corp raised its stake in shares of Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $33,000. VisionPoint Advisory Group LLC raised its stake in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after purchasing an additional 740 shares during the period. Finally, Stone House Investment Management LLC raised its stake in shares of Coterra Energy by 32.4% during the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock valued at $46,000 after purchasing an additional 438 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research note on Wednesday, April 3rd. UBS Group lifted their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $32.00 and gave the stock a “positive” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Trading Up 0.7 %

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

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

Coterra Energy Increases Dividend

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

Insiders Place Their Bets

In other Coterra Energy 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 sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coterra Energy 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 sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the company’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 owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.