Tokio Marine Asset Management Co. Ltd. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,003 shares of the company’s stock after purchasing an additional 1,514 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Coterra Energy were worth $766,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CTRA. Wellington Management Group LLP lifted its stake in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the period. Geode Capital Management LLC lifted its stake in Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after acquiring an additional 128,397 shares during the period. Victory Capital Management Inc. lifted its stake in Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after acquiring an additional 195,966 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake in Coterra Energy by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after acquiring an additional 284,106 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $28.04 on Wednesday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 0.56 and a beta of 0.26. The company has a fifty day simple moving average of $26.59 and a 200-day simple moving average of $25.14. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Scotiabank decreased their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. UBS Group boosted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Citigroup boosted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Mizuho boosted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

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.