Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 74,381 shares of the company’s stock after purchasing an additional 1,267 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coterra Energy were worth $1,781,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coterra Energy during the first quarter worth $656,000. Quadrature Capital Ltd raised its holdings in Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after purchasing an additional 38,278 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in Coterra Energy by 130.3% during the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after purchasing an additional 32,173 shares in the last quarter. Raymond James & Associates lifted its position in Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

NYSE:CTRA opened at $23.81 on Tuesday. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.41 and a beta of 0.22. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average is $23.86 and its two-hundred day moving average is $25.93.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. Research analysts expect that Coterra Energy Inc. will post 1.72 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.53%. Coterra Energy’s payout ratio is currently 48.55%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTRA. 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 report on Monday, September 30th. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Wells Fargo & Company reduced their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, BMO Capital Markets upgraded shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $32.06.

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.