Resona Asset Management Co. Ltd. Boosts Stock Position in Coterra Energy Inc. $CTRA

Resona Asset Management Co. Ltd. boosted its position in Coterra Energy Inc. (NYSE:CTRA) by 30.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 294,598 shares of the company’s stock after purchasing an additional 68,100 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Coterra Energy were worth $7,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new stake in shares of Coterra Energy during the second quarter worth about $26,000. REAP Financial Group LLC boosted its position in Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after acquiring an additional 726 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Coterra Energy in the 1st quarter worth approximately $29,000. TCTC Holdings LLC grew its stake in Coterra Energy by 51.0% in the 1st quarter. TCTC Holdings LLC now owns 1,771 shares of the company’s stock worth $51,000 after acquiring an additional 598 shares during the period. Finally, Quarry LP raised its holdings in Coterra Energy by 69.2% in the 1st quarter. Quarry LP now owns 2,147 shares of the company’s stock valued at $62,000 after acquiring an additional 878 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Coterra Energy stock opened at $26.61 on Friday. The company has a market cap of $20.30 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.36 and a beta of 0.30. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock’s 50-day moving average is $23.92 and its 200-day moving average is $24.45.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $558.00 million for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a report on Wednesday, October 8th. Morgan Stanley reduced their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. UBS Group lowered their price target on Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Scotiabank dropped their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 9th. Finally, Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Seventeen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.43.

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.