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

Daiwa Securities Group Inc. boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,377 shares of the company’s stock after purchasing an additional 8,875 shares during the period. Daiwa Securities Group Inc.’s holdings in Coterra Energy were worth $2,165,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the last quarter. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Coterra Energy during the 3rd quarter worth approximately $57,000. Tobam purchased a new stake in Coterra Energy during the 3rd quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC grew its position in Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent research reports. Susquehanna upped their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Scotiabank dropped their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company upped their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup upped their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley upped their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Two 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Stock Performance

NYSE:CTRA opened at $26.68 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a fifty day moving average of $24.65 and a two-hundred day moving average of $25.41. The stock has a market capitalization of $19.65 billion, a PE ratio of 16.07, a P/E/G ratio of 1.75 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. As a group, research analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

About Coterra Energy

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.