Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,205,508 shares of the company's stock after acquiring an additional 49,837 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Coterra Energy worth $31,633,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock worth $599,356,000 after buying an additional 1,310,965 shares during the period. Geode Capital Management LLC boosted its position in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company's stock valued at $453,628,000 after purchasing an additional 128,397 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after buying an additional 845,609 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Coterra Energy by 5.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company's stock worth $128,085,000 after acquiring an additional 284,106 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

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Coterra Energy Trading Down 5.8 %

Shares of CTRA stock traded down $1.67 on Thursday, hitting $27.32. The stock had a trading volume of 2,011,095 shares, compared to its average volume of 6,530,000. The company's 50 day moving average price is $27.90 and its 200-day moving average price is $26.17. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a market capitalization of $20.88 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Thursday, March 13th. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio is 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction that occurred on 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 transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on 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 directly owns 126,770 shares in the company, 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. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CTRA shares. UBS Group increased their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Johnson Rice raised Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. Raymond James reduced their target price on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Finally, Piper Sandler raised their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a 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 company's stock. According to MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $34.35.

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.