Coterra Energy Inc. (NYSE:CTRA) Stake Cut by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 22.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,480 shares of the company’s stock after selling 9,370 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Coterra Energy were worth $830,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Sterling Capital Management LLC raised its stake in Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after acquiring an additional 3,599,042 shares during the period. Envestnet Asset Management Inc. boosted its position in Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock valued at $123,036,000 after purchasing an additional 2,600,801 shares during the period. Raymond James Financial Inc. bought a new position in Coterra Energy during the 4th quarter worth $61,461,000. Schroder Investment Management Group lifted its stake in Coterra Energy by 18.2% in the fourth quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company’s stock valued at $300,537,000 after buying an additional 1,809,615 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Coterra Energy by 668.0% during the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after acquiring an additional 1,406,170 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Down 4.0 %

NYSE:CTRA opened at $24.82 on Tuesday. The stock has a fifty day simple moving average of $27.08 and a 200 day simple moving average of $26.34. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $18.97 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.55%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the 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 sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday. Scotiabank cut their target price on Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a report on Tuesday, April 15th. Finally, Truist Financial raised 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 Monday, January 13th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

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.