Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. decreased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,121,270 shares of the company’s stock after selling 100,133 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Coterra Energy were worth $28,637,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. City State Bank purchased a new position in Coterra Energy in the fourth quarter valued at $26,000. AdvisorNet Financial Inc raised its position in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd acquired a new position in shares of Coterra Energy during the fourth quarter worth about $32,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Coterra Energy during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $28.65 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26. The company has a 50-day simple moving average of $27.91 and a 200-day simple moving average of $26.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.07%. Coterra Energy’s dividend payout ratio is currently 58.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley decreased their price objective on shares of Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group upped their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Finally, Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and raised their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $34.35.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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.