Coterra Energy Inc. $CTRA Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 45.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 451,987 shares of the company’s stock after selling 378,405 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coterra Energy were worth $11,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. M&T Bank Corp boosted its stake in Coterra Energy by 24.6% in the fourth quarter. M&T Bank Corp now owns 205,686 shares of the company’s stock valued at $5,414,000 after acquiring an additional 40,567 shares during the period. Exencial Wealth Advisors LLC boosted its stake in Coterra Energy by 1.6% in the fourth quarter. Exencial Wealth Advisors LLC now owns 46,747 shares of the company’s stock valued at $1,230,000 after acquiring an additional 754 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in Coterra Energy by 30.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 358,273 shares of the company’s stock valued at $9,430,000 after acquiring an additional 84,623 shares during the period. Anchyra Partners LLC acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $202,000. Finally, D.A. Davidson & CO. boosted its position in shares of Coterra Energy by 117.5% during the fourth quarter. D.A. Davidson & CO. now owns 195,938 shares of the company’s stock worth $5,157,000 after buying an additional 105,866 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CTRA shares. Mizuho boosted their price objective on Coterra Energy from $36.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Zacks Research upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, Roth Mkm boosted their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.32.

Coterra Energy Stock Performance

CTRA opened at $35.40 on Friday. The company has a market capitalization of $26.88 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $36.88. The business has a 50 day moving average price of $32.90 and a two-hundred day moving average price of $28.67.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s dividend payout ratio is 38.60%.

Coterra Energy Profile

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.