Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Coterra Energy Inc. $CTRA

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Coterra Energy by 45.6% in Q4, selling 378,405 shares and retaining 451,987 shares worth about $11.9 million (≈0.06% of the company).
• Coterra recently paid a quarterly dividend of $0.22 (annualized $0.88) implying a 2.5% yield and a payout ratio of 38.6%.
• Analysts carry a consensus rating of "Moderate Buy" with a consensus target of $37.32, while individual price targets range from $31 (JPMorgan) to $42 (Morgan Stanley); institutional ownership is about 87.9%.

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 45.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 451,987 shares of the company's stock after selling 378,405 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Coterra Energy worth $11,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. GoalVest Advisory LLC acquired a new stake in shares of Coterra Energy during the fourth quarter worth approximately $28,000. Winnow Wealth LLC acquired a new stake in shares of Coterra Energy during the third quarter worth approximately $29,000. City Holding Co. grew its position in shares of Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company's stock worth $32,000 after buying an additional 722 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Coterra Energy during the third quarter worth approximately $29,000. Finally, Triumph Capital Management acquired a new position in Coterra Energy in the third quarter worth about $31,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $35.40 on Friday. 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 business has a 50 day moving average of $32.90 and a two-hundred day moving average of $28.67. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $36.88. The company has a market cap of $26.88 billion, a P/E ratio of 15.52, a PEG ratio of 0.53 and a beta of 0.33.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Coterra Energy's payout ratio is presently 38.60%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, January 12th. Siebert Williams Shank lowered Coterra Energy from a "buy" rating to a "hold" rating in a report on Friday, March 6th. 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 report on Tuesday. Stephens boosted their price objective on Coterra Energy from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday, January 29th. Finally, Barclays boosted their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.32.

Coterra Energy Company 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.

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