Sumitomo Mitsui Trust Holdings Inc. Sells 103,425 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,001,691 shares of the company’s stock after selling 103,425 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Coterra Energy were worth $51,083,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in Coterra Energy during the 1st quarter valued at $2,472,575,000. State Street Corp bought a new stake in Coterra Energy during the 1st quarter valued at $1,493,855,000. Geode Capital Management LLC increased its stake in Coterra Energy by 5.7% during the 1st quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock valued at $454,088,000 after purchasing an additional 1,000,620 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Coterra Energy by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after purchasing an additional 235,636 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after purchasing an additional 544,768 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays assumed coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price target for the company. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Stephens reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Finally, Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.75 on Friday. The company’s 50-day moving average is $26.64 and its 200 day moving average is $26.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market capitalization of $20.86 billion, a P/E ratio of 12.97 and a beta of 0.21. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. On average, equities research analysts forecast that Coterra Energy Inc. will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 3.03%. Coterra Energy’s dividend payout ratio is 39.25%.

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.