Meiji Yasuda Asset Management Co Ltd. Buys 2,994 Shares of Coterra Energy Inc. (NYSE:CTRA)

Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 12.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,344 shares of the company’s stock after acquiring an additional 2,994 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Coterra Energy were worth $729,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in shares of Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the period. Larson Financial Group LLC lifted its stake in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the first quarter worth about $44,000. Harbor Investment Advisory LLC increased its position in Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in Coterra Energy in the first quarter valued at approximately $47,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

CTRA opened at $23.66 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.89. The firm has a market cap of $17.61 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. The business’s fifty day moving average is $24.42 and its 200-day moving average is $26.40.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts expect that Coterra Energy Inc. will post 1.95 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.55%. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Analyst Ratings Changes

CTRA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. UBS Group dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Truist Financial decreased their price target on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Morgan Stanley cut their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Two equities research 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 company. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.59.

Coterra Energy Company 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.