Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Coterra Energy Inc. $CTRA

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,611,097 shares of the company’s stock after buying an additional 28,460 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Coterra Energy were worth $42,855,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CTRA. QRG Capital Management Inc. raised its position in Coterra Energy by 67.0% during the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after purchasing an additional 57,461 shares during the last quarter. Summit Global Investments bought a new position in Coterra Energy during the 3rd quarter valued at approximately $1,086,000. Ashton Thomas Private Wealth LLC raised its position in Coterra Energy by 60.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock valued at $6,472,000 after purchasing an additional 103,381 shares during the last quarter. Vanguard Group Inc. raised its position in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Coterra Energy by 36.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after purchasing an additional 220,688 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Down 0.9%

CTRA stock opened at $32.25 on Friday. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $36.88. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The firm has a market cap of $24.49 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.48 and a beta of 0.32. The business has a 50 day moving average of $33.06 and a 200 day moving average of $28.97.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.28). Coterra Energy had a net margin of 22.46% and a return on equity of 10.43%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.25 billion. On average, research analysts forecast that Coterra Energy Inc. will post 2.87 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is 38.60%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Raymond James Financial upped their price target on Coterra Energy from $34.00 to $41.00 in a research report on Monday, March 9th. Jefferies Financial Group upped their price target on Coterra Energy from $28.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Mizuho upped their price target on Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Piper Sandler upped their price target on Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Finally, Roth Mkm upped their price target on Coterra Energy from $28.00 to $32.00 and gave the company 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 assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.32.

About Coterra Energy

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.