Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,340,904 shares of the company's stock after purchasing an additional 135,396 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Coterra Energy worth $38,752,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTRA. Vanguard Group Inc. boosted its stake in shares of Coterra Energy by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock worth $2,668,559,000 after acquiring an additional 3,818,700 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company's stock worth $731,313,000 after acquiring an additional 1,837,614 shares during the last quarter. Victory Capital Management Inc. lifted its position in Coterra Energy by 5.7% during the first quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company's stock valued at $544,149,000 after purchasing an additional 1,019,995 shares in the last quarter. Northern Trust Corp lifted its position in Coterra Energy by 7.0% during the fourth quarter. Northern Trust Corp now owns 8,777,764 shares of the company's stock valued at $224,184,000 after purchasing an additional 571,193 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Coterra Energy by 13.7% during the fourth quarter. Deutsche Bank AG now owns 6,075,429 shares of the company's stock valued at $155,166,000 after purchasing an additional 732,928 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.
Coterra Energy Price Performance
Shares of CTRA traded down $0.14 during mid-day trading on Thursday, hitting $24.09. 8,543,958 shares of the stock were exchanged, compared to its average volume of 6,958,844. The company has a market cap of $18.38 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.33 and a beta of 0.33. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a 50-day moving average of $25.00 and a two-hundred day moving average of $25.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.
Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy's revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current year.
Coterra Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, August 14th. Coterra Energy's dividend payout ratio is currently 42.11%.
Analyst Ratings Changes
Several equities analysts recently weighed in on CTRA shares. Scotiabank reiterated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $33.00 price objective (up from $32.00) on shares of Coterra Energy in a research report on Thursday. Mizuho lowered their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Bank of America lowered their price target on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Susquehanna lowered their price target on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.37.
Read Our Latest Stock Analysis on CTRA
Coterra Energy Company Profile
(
Free Report)
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.
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