Sumitomo Mitsui Trust Group Inc. Has $49.21 Million Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,702,777 shares of the company's stock after selling 51,130 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Coterra Energy worth $49,210,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CTRA. IFP Advisors Inc raised its holdings in Coterra Energy by 15.7% during the fourth quarter. IFP Advisors Inc now owns 4,664 shares of the company's stock worth $119,000 after acquiring an additional 633 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Coterra Energy by 28.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 65,398 shares of the company's stock worth $1,670,000 after purchasing an additional 14,649 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Coterra Energy during the 4th quarter worth approximately $3,624,000. Private Trust Co. NA boosted its holdings in shares of Coterra Energy by 20.0% in the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock valued at $55,000 after buying an additional 356 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Coterra Energy by 7.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,757 shares of the company's stock valued at $351,000 after buying an additional 951 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTRA. Pickering Energy Partners downgraded shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Bank of America decreased their price objective on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. UBS Group dropped their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Mizuho reduced their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Coterra Energy Stock Performance

CTRA traded up $0.16 during trading on Thursday, hitting $25.19. The stock had a trading volume of 3,494,277 shares, compared to its average volume of 6,514,172. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The company has a 50 day moving average price of $25.20 and a 200-day moving average price of $26.40. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.34 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The company had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. Coterra Energy's quarterly revenue was up 32.9% on a year-over-year basis. As a group, research analysts predict that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.49%. Coterra Energy's payout ratio is 51.16%.

About Coterra Energy

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.