Mitsubishi UFJ Asset Management Co. Ltd. Purchases 28,460 Shares of Coterra Energy Inc. $CTRA

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Coterra Energy Inc. (NYSE:CTRA) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,611,097 shares of the company’s stock after buying an additional 28,460 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of Coterra Energy worth $42,855,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GoalVest Advisory LLC bought a new stake in shares of Coterra Energy during the 4th quarter valued at $28,000. Winnow Wealth LLC bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $29,000. Triumph Capital Management bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $31,000. Finally, City Holding Co. raised its stake in shares of Coterra Energy by 144.4% during the 4th quarter. City Holding Co. now owns 1,222 shares of the company’s stock valued at $32,000 after purchasing an additional 722 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on Coterra Energy from $28.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their price objective on Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Texas Capital lowered Coterra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Jefferies Financial Group upped their target price on Coterra Energy from $28.00 to $33.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Finally, Wolfe Research upped their target price on Coterra Energy from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.32.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $32.25 on Friday. The firm has a market capitalization of $24.49 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The stock’s 50-day simple moving average is $33.06 and its two-hundred day simple moving average is $28.97. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $36.88.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.28). Coterra Energy had a return on equity of 10.43% and a net margin of 22.46%.The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.25 billion. As a group, equities analysts anticipate that Coterra Energy Inc. will post 2.87 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, March 11th. Coterra Energy’s dividend payout ratio is presently 38.60%.

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.