Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,650,859 shares of the company’s stock after purchasing an additional 40,569 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coterra Energy were worth $39,538,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CTRA. Fifth Third Bancorp increased its stake in Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after buying an additional 399 shares in the last quarter. TCW Group Inc. increased its stake in Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after buying an additional 404 shares in the last quarter. Cornercap Investment Counsel Inc. increased its stake in Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after buying an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in Coterra Energy by 17.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after buying an additional 450 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Coterra Energy by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after buying an additional 474 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Up 0.5 %

NYSE:CTRA opened at $25.55 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $23.95 and its two-hundred day moving average is $25.48. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $28.90. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CTRA shares. Barclays boosted their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday. UBS Group upped their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley upped their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Stephens upped their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Company Profile

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.