Daiwa Securities Group Inc. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Daiwa Securities Group Inc. increased its position in Coterra Energy Inc. (NYSE:CTRA) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,768 shares of the company’s stock after purchasing an additional 5,643 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Coterra Energy were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Coterra Energy by 2.1% in the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock valued at $3,068,000 after purchasing an additional 2,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Coterra Energy in the 3rd quarter valued at approximately $1,461,000. Nordea Investment Management AB lifted its stake in shares of Coterra Energy by 3.9% in the 3rd quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock valued at $21,844,000 after purchasing an additional 30,237 shares during the period. Pinnacle Associates Ltd. raised its stake in Coterra Energy by 5.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock valued at $343,000 after buying an additional 679 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Coterra Energy by 9.8% in the third quarter. Royal Bank of Canada now owns 3,336,830 shares of the company’s stock worth $90,261,000 after acquiring an additional 296,676 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Coterra Energy Price Performance

NYSE CTRA opened at $27.95 on Tuesday. Coterra Energy Inc. has a 52 week low of $22.91 and a 52 week high of $29.89. The firm has a market capitalization of $21.01 billion, a P/E ratio of 13.06 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $26.78 and a 200-day moving average price of $26.40.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Equities research analysts anticipate that Coterra Energy Inc. will post 1.93 earnings per share for the current year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.01%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of analyst reports. Scotiabank upped their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Stephens reiterated an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a research note on Tuesday, January 23rd. Barclays initiated coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Morgan Stanley upped their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Finally, Piper Sandler upped their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.47.

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.