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

Nomura Asset Management Co. Ltd. cut its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,121,270 shares of the company’s stock after selling 100,133 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.15% of Coterra Energy worth $28,637,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Coterra Energy

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

Coterra Energy Price Performance

CTRA stock opened at $28.65 on Friday. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The business has a fifty day moving average of $27.91 and a two-hundred day moving average of $26.04.

Coterra Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CTRA shares. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research report on Wednesday, March 5th. Piper Sandler lifted their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. reduced their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, Mizuho increased their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.35.

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.