Sumitomo Mitsui DS Asset Management Company Ltd Buys 877 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,114 shares of the company’s stock after buying an additional 877 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coterra Energy were worth $1,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its position in shares of Coterra Energy by 172.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock worth $18,531,000 after acquiring an additional 459,713 shares in the last quarter. KBC Group NV boosted its holdings in shares of Coterra Energy by 240.1% during the 4th quarter. KBC Group NV now owns 863,965 shares of the company’s stock valued at $22,049,000 after buying an additional 609,954 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Coterra Energy in the 1st quarter worth about $656,000. Quadrature Capital Ltd grew its position in shares of Coterra Energy by 112.2% in the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after buying an additional 38,278 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Coterra Energy by 38.2% in the 4th quarter. Private Advisor Group LLC now owns 123,322 shares of the company’s stock worth $3,147,000 after acquiring an additional 34,110 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 0.4 %

NYSE:CTRA opened at $24.33 on Friday. Coterra Energy Inc. has a one year low of $23.18 and a one year high of $29.89. The business has a fifty day moving average price of $25.52 and a 200-day moving average price of $26.64. The firm has a market capitalization of $18.11 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that Coterra Energy Inc. will post 2.02 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.45%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 48.55%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. BMO Capital Markets raised Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Wolfe Research started coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Susquehanna lifted their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, May 7th. Finally, Mizuho raised their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.29.

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.