Asset Management One Co. Ltd. Sells 1,000 Shares of Coterra Energy Inc. (NYSE:CTRA)

Asset Management One Co. Ltd. cut its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 280,729 shares of the company’s stock after selling 1,000 shares during the period. Asset Management One Co. Ltd.’s holdings in Coterra Energy were worth $6,723,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC boosted its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Coterra Energy during the first quarter valued at approximately $44,000. Values First Advisors Inc. acquired a new position in Coterra Energy during the third quarter valued at approximately $57,000. Finally, Tobam acquired a new position in Coterra Energy during the third quarter valued at approximately $63,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

Coterra Energy stock opened at $24.41 on Friday. The stock’s fifty day moving average price is $23.76 and its two-hundred day moving average price is $25.60. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.38. The firm has a market cap of $17.98 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business earned $0.47 EPS. Coterra Energy’s revenue was up .2% on a year-over-year basis. As a group, research analysts expect that Coterra Energy Inc. will post 1.62 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.44%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several recent research reports. Truist Financial reduced their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Barclays cut their price objective on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Mizuho raised their price objective on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company cut their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $31.29.

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.