Resona Asset Management Co. Ltd. Invests $5.45 Million in Coterra Energy Inc. (NYSE:CTRA)

Resona Asset Management Co. Ltd. bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 214,611 shares of the company's stock, valued at approximately $5,454,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Czech National Bank boosted its position in shares of Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company's stock valued at $4,079,000 after purchasing an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC boosted its holdings in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock worth $6,052,000 after buying an additional 122,487 shares in the last quarter. M.E. Allison & CO. Inc. bought a new position in shares of Coterra Energy during the 4th quarter worth approximately $217,000. Barclays PLC increased its stake in shares of Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company's stock valued at $51,425,000 after acquiring an additional 64,753 shares in the last quarter. Finally, Range Financial Group LLC acquired a new position in shares of Coterra Energy during the 4th quarter valued at $1,267,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Up 0.6 %

Shares of Coterra Energy stock traded up $0.15 during midday trading on Monday, reaching $25.31. 536,139 shares of the company's stock traded hands, compared to its average volume of 6,202,258. The company has a market cap of $19.34 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The stock has a 50 day moving average of $27.38 and a 200-day moving average of $26.29. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.48%. Coterra Energy's payout ratio is presently 58.28%.

Analysts Set New Price Targets

Several brokerages have recently commented on CTRA. Mizuho increased their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Barclays lifted their price target on Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. The Goldman Sachs Group raised their target price on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Scotiabank reduced their price target on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research report on Friday. Finally, Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $34.20.

Insider Activity at Coterra Energy

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

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.