Nomura Asset Management Co. Ltd. Has $24.72 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Nomura Asset Management Co. Ltd. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 968,453 shares of the company’s stock after selling 15,797 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Coterra Energy were worth $24,715,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CTRA. Schroder Investment Management Group raised its position in shares of Coterra Energy by 21.7% in the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after purchasing an additional 1,281,094 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Coterra Energy by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock valued at $267,089,000 after purchasing an additional 848,519 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Coterra Energy by 60.4% during the third quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock worth $52,376,000 after purchasing an additional 729,306 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Coterra Energy by 47.2% during the third quarter. Envestnet Asset Management Inc. now owns 2,247,785 shares of the company’s stock worth $60,803,000 after purchasing an additional 720,464 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Coterra Energy by 59.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,454,603 shares of the company’s stock worth $39,347,000 after purchasing an additional 541,518 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CTRA shares. Morgan Stanley upped their price objective on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Barclays initiated coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Susquehanna lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Stifel Nicolaus cut their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Mizuho raised their target price on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 13th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.73.

Coterra Energy Price Performance

Shares of CTRA traded up $0.06 during midday trading on Friday, hitting $27.13. The company’s stock had a trading volume of 5,008,401 shares, compared to its average volume of 5,667,099. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a one year low of $22.91 and a one year high of $29.89. The stock has a market capitalization of $20.19 billion, a price-to-earnings ratio of 15.68 and a beta of 0.22. The company’s fifty day simple moving average is $27.81 and its two-hundred day simple moving average is $26.36.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, equities analysts expect that Coterra Energy Inc. will post 1.82 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Wednesday, May 15th. Coterra Energy’s dividend payout ratio is 48.55%.

Insider Buying and Selling

In other news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Coterra Energy 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.