Mitsubishi UFJ Asset Management Co. Ltd. Has $31.63 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,205,508 shares of the company’s stock after purchasing an additional 49,837 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Coterra Energy were worth $31,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. D.A. Davidson & CO. boosted its holdings in shares of Coterra Energy by 9.3% during the 3rd quarter. D.A. Davidson & CO. now owns 25,767 shares of the company’s stock worth $617,000 after buying an additional 2,202 shares during the period. FMR LLC boosted its holdings in shares of Coterra Energy by 11.7% during the third quarter. FMR LLC now owns 911,700 shares of the company’s stock worth $21,835,000 after acquiring an additional 95,539 shares during the period. Quantbot Technologies LP acquired a new position in shares of Coterra Energy in the third quarter valued at approximately $193,000. Townsquare Capital LLC increased its stake in shares of Coterra Energy by 8.0% during the third quarter. Townsquare Capital LLC now owns 57,246 shares of the company’s stock worth $1,371,000 after purchasing an additional 4,239 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in Coterra Energy by 9.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 19,045 shares of the company’s stock worth $456,000 after purchasing an additional 1,719 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CTRA. Morgan Stanley lowered their price objective on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Jefferies Financial Group boosted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Piper Sandler increased their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. 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 stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $34.35.

Coterra Energy Stock Up 0.4 %

Shares of NYSE:CTRA opened at $28.65 on Friday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a market capitalization of $21.89 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a fifty day moving average of $27.91 and a 200-day moving average of $26.04.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at Coterra Energy

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 stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s 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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

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.