Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Mitsubishi UFJ Trust & Banking Corp raised its position in Coterra Energy Inc. (NYSE:CTRA) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 734,059 shares of the company’s stock after buying an additional 6,734 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coterra Energy were worth $18,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. City State Bank purchased a new stake in Coterra Energy in the 4th quarter worth about $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC boosted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new position in shares of Coterra Energy in the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA opened at $28.51 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $21.79 billion, a P/E ratio of 17.18, a PEG ratio of 0.59 and a beta of 0.26. The stock has a 50-day moving average price of $27.93 and a 200-day moving average price of $25.97. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.09%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several analyst reports. Morgan Stanley cut their price objective on shares of Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Piper Sandler boosted their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Truist Financial raised their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Barclays lifted their target price on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

Coterra Energy 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.