Daiwa Securities Group Inc. Acquires 35,259 Shares of Coterra Energy Inc. (NYSE:CTRA)

Daiwa Securities Group Inc. increased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,636 shares of the company's stock after buying an additional 35,259 shares during the period. Daiwa Securities Group Inc.'s holdings in Coterra Energy were worth $3,209,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CTRA. Isthmus Partners LLC boosted its stake in Coterra Energy by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 401,147 shares of the company's stock valued at $10,245,000 after purchasing an additional 2,243 shares during the last quarter. Simplicity Wealth LLC acquired a new position in Coterra Energy during the 4th quarter valued at about $216,000. AlphaQuest LLC boosted its stake in Coterra Energy by 116,018.2% during the 4th quarter. AlphaQuest LLC now owns 25,546 shares of the company's stock valued at $652,000 after purchasing an additional 25,524 shares during the last quarter. Argentarii LLC acquired a new position in Coterra Energy during the 4th quarter valued at about $219,000. Finally, Larson Financial Group LLC boosted its stake in Coterra Energy by 247.7% during the 4th quarter. Larson Financial Group LLC now owns 3,345 shares of the company's stock valued at $85,000 after purchasing an additional 2,383 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of research firms have issued reports on CTRA. Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. The Goldman Sachs Group lifted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Raymond James dropped their target price on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Jefferies Financial Group lifted their target price on shares of 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 shares of Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.10.

Coterra Energy Stock Performance

CTRA stock traded up $0.53 during midday trading on Monday, reaching $28.16. 6,436,191 shares of the company's stock traded hands, compared to its average volume of 5,826,468. The company has a 50-day moving average price of $27.75 and a two-hundred day moving average price of $25.68. 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 Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a market capitalization of $21.52 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.22 per share. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Thursday, March 13th. Coterra Energy's payout ratio is 58.28%.

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.