Sumitomo Mitsui Trust Group Inc. Increases Position in Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui Trust Group Inc. grew its stake in Coterra Energy Inc. (NYSE:CTRA) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,650,859 shares of the company’s stock after acquiring an additional 40,569 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Coterra Energy worth $39,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nations Financial Group Inc. IA ADV increased its holdings in shares of Coterra Energy by 4.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company’s stock valued at $426,000 after acquiring an additional 724 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Coterra Energy by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after acquiring an additional 474 shares during the period. Wealth Quarterback LLC increased its holdings in shares of Coterra Energy by 4.3% in the 3rd quarter. Wealth Quarterback LLC now owns 31,694 shares of the company’s stock valued at $759,000 after acquiring an additional 1,319 shares during the period. Assetmark Inc. grew its stake in Coterra Energy by 11.7% during the 3rd quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock worth $2,248,000 after buying an additional 9,840 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Coterra Energy during the 3rd quarter worth $67,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CTRA shares. Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Mizuho boosted their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays boosted their target price on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group boosted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $25.55 on Friday. The stock has a market cap of $18.82 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The business has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $25.48. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. On average, equities analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.29%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

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.