Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Coterra Energy Inc. $CTRA

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,958,836 shares of the company’s stock after selling 44,568 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Coterra Energy worth $46,326,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Coterra Energy by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock valued at $2,416,429,000 after buying an additional 2,872,288 shares during the last quarter. State Street Corp lifted its stake in shares of Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after acquiring an additional 386,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after purchasing an additional 1,495,553 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after purchasing an additional 953,824 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in Coterra Energy by 1.1% during the 2nd quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock valued at $344,536,000 after purchasing an additional 141,830 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CTRA. Morgan Stanley cut their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Barclays dropped their price target on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Stephens reduced their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 21st. William Blair assumed coverage on shares of Coterra Energy in a report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, Piper Sandler dropped their target price on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Sixteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.72 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95. The company has a fifty day moving average price of $26.08 and a two-hundred day moving average price of $24.75. The company has a market cap of $19.58 billion, a PE ratio of 11.85, a P/E/G ratio of 0.44 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. Research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s payout ratio is presently 40.55%.

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.