Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Coterra Energy Inc. $CTRA

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 609,704 shares of the company’s stock after selling 14,007 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Coterra Energy worth $15,474,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its position in shares of Coterra Energy by 6.6% during the first quarter. New York State Common Retirement Fund now owns 330,423 shares of the company’s stock valued at $9,549,000 after buying an additional 20,391 shares during the period. Graypoint LLC bought a new stake in Coterra Energy during the 1st quarter worth approximately $204,000. Foundry Partners LLC lifted its stake in Coterra Energy by 40.8% in the 1st quarter. Foundry Partners LLC now owns 613,773 shares of the company’s stock worth $17,738,000 after purchasing an additional 177,763 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in Coterra Energy in the 1st quarter valued at $563,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Coterra Energy by 3.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 56,839 shares of the company’s stock valued at $1,643,000 after purchasing an additional 2,043 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $26.34 on Friday. The firm has a market capitalization of $20.06 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95. The business’s 50-day moving average price is $24.12 and its 200-day moving average price is $24.48.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. Sell-side analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. Coterra Energy’s dividend payout ratio is 40.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CTRA shares. The Goldman Sachs Group decreased their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Wells Fargo & Company upped their target price on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Roth Capital reiterated a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a research report on Tuesday, November 4th. Wolfe Research decreased their price objective on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Seventeen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.43.

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.