Meiji Yasuda Asset Management Co Ltd. Sells 919 Shares of Coterra Energy Inc. $CTRA

Meiji Yasuda Asset Management Co Ltd. lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 3.1% during the 1st quarter, HoldingsChannel reports. The firm owned 28,945 shares of the company’s stock after selling 919 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Coterra Energy were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CTRA. Cornerstone Planning Group LLC lifted its holdings in shares of Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after buying an additional 555 shares during the period. Raleigh Capital Management Inc. increased its position in Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after acquiring an additional 737 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Coterra Energy in the first quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in Coterra Energy in the first quarter worth about $34,000. Finally, Investors Research Corp grew its stake in shares of Coterra Energy by 45.2% during the 1st quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after purchasing an additional 408 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 2.1%

Shares of CTRA stock opened at $24.36 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company’s fifty day moving average price is $24.17 and its 200-day moving average price is $25.36. The company has a market capitalization of $18.59 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.32 and a beta of 0.34.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company’s quarterly revenue was up 54.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is 42.11%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTRA. Barclays increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Piper Sandler increased their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Pickering Energy Partners cut shares of Coterra Energy from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 20th. Raymond James Financial set a $38.00 price objective on Coterra Energy and gave the stock an “outperform” rating in a research note on Friday, June 13th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $33.61.

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.