Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,489 shares of the company’s stock after purchasing an additional 1,197 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Coterra Energy were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTRA. Metis Global Partners LLC raised its position in shares of Coterra Energy by 9.7% during the third quarter. Metis Global Partners LLC now owns 32,074 shares of the company’s stock worth $768,000 after purchasing an additional 2,844 shares during the period. Hourglass Capital LLC raised its holdings in Coterra Energy by 58.0% during the 3rd quarter. Hourglass Capital LLC now owns 16,350 shares of the company’s stock worth $392,000 after buying an additional 6,000 shares during the period. MQS Management LLC purchased a new stake in Coterra Energy during the third quarter valued at about $776,000. Victory Capital Management Inc. boosted its holdings in shares of Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after buying an additional 195,966 shares during the period. Finally, Aigen Investment Management LP purchased a new position in shares of Coterra Energy in the third quarter worth approximately $376,000. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CTRA shares. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group increased their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley lifted their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Performance

Shares of CTRA opened at $25.58 on Friday. The firm has a market cap of $18.84 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The company’s fifty day moving average is $23.95 and its 200-day moving average is $25.46. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

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.