Coterra Energy Inc. (NYSE:CTRA) Position Lowered by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 14.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 36,338 shares of the company’s stock after selling 6,319 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Coterra Energy were worth $928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after purchasing an additional 2,954,675 shares during the period. Raymond James Financial Inc. bought a new position in shares of Coterra Energy in the 4th quarter worth about $61,461,000. Truist Financial Corp boosted its holdings in shares of Coterra Energy by 668.0% in the 4th quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after buying an additional 1,406,170 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after buying an additional 1,310,965 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In other Coterra Energy 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 transaction of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

CTRA opened at $28.16 on Tuesday. 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 firm has a market cap of $21.52 billion, a PE ratio of 16.97, a P/E/G ratio of 0.59 and a beta of 0.26. The business has a fifty day simple moving average of $27.79 and a 200-day simple moving average of $25.71. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.12%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Analyst Ratings Changes

A number of brokerages have issued reports on CTRA. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group boosted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Mizuho increased their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Finally, Barclays increased their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $34.10.

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.