Sumitomo Mitsui Trust Group Inc. Sells 255,279 Shares of Coterra Energy Inc. $CTRA

Key Points

• Sumitomo Mitsui Trust Group trimmed its Coterra stake by 13.0%, selling 255,279 shares in Q4 and now holds 1,703,557 shares valued at about $44.84 million (≈0.22% of the company).
• Analysts have been lifting targets and ratings on CTRA—MarketBeat lists a consensus rating of “Moderate Buy” with a $36.83 price target, and several firms raised targets into the mid-$40s.
• Coterra pays a quarterly dividend of $0.22 (annualized $0.88) for a 2.8% yield

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,703,557 shares of the company's stock after selling 255,279 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Coterra Energy worth $44,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTRA. GoalVest Advisory LLC bought a new stake in shares of Coterra Energy during the 4th quarter valued at approximately $28,000. Winnow Wealth LLC bought a new stake in shares of Coterra Energy during the 3rd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of Coterra Energy during the 3rd quarter valued at approximately $29,000. Triumph Capital Management bought a new stake in shares of Coterra Energy during the 3rd quarter valued at approximately $31,000. Finally, City Holding Co. grew its holdings 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 last quarter. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of several research reports. Mizuho lifted their price target on shares of Coterra Energy from $36.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Zacks Research raised shares of Coterra Energy from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 17th. Capital One Financial boosted their target price on shares of Coterra Energy from $37.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, March 25th. Texas Capital lowered shares of Coterra Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Finally, Piper Sandler boosted their target price on shares of Coterra Energy from $41.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Sixteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.83.

Coterra Energy Trading Down 0.2%

NYSE:CTRA opened at $31.61 on Thursday. The firm's fifty day moving average is $32.40 and its 200-day moving average is $27.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $36.88. The firm has a market cap of $24.00 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.51 and a beta of 0.29.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, March 11th. Coterra Energy's dividend payout ratio is currently 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.

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