Daiwa Securities Group Inc. Has $3.21 Million Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Daiwa Securities Group Inc. lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,636 shares of the company’s stock after buying an additional 35,259 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Coterra Energy were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. City State Bank bought a new position in Coterra Energy in the 4th quarter worth $26,000. AdvisorNet Financial Inc grew its position in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd acquired a new position in shares of Coterra Energy during the 4th quarter worth about $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy during the 4th quarter valued at approximately $43,000. 87.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several recent analyst reports. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price target for the stock from $34.00 to $37.00 in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Susquehanna increased their price target 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. UBS Group boosted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.10.

Coterra Energy Stock Down 2.0 %

Shares of NYSE:CTRA opened at $26.69 on Friday. The company’s fifty day moving average is $27.72 and its 200-day moving average is $25.64. 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 company has a market capitalization of $20.40 billion, a PE ratio of 16.08, a P/E/G 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. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. 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 yield of 3.30%. Coterra Energy’s payout ratio is 58.28%.

Insiders Place Their Bets

In other news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction 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 sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

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.