Schroder Investment Management Group Raises Position in Coterra Energy Inc. (NYSE:CTRA)

Schroder Investment Management Group lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 18.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,776,525 shares of the company’s stock after purchasing an additional 1,809,615 shares during the quarter. Schroder Investment Management Group owned about 1.60% of Coterra Energy worth $300,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. City State Bank acquired a new stake in Coterra Energy in the fourth quarter worth about $26,000. AdvisorNet Financial Inc raised its position in shares of Coterra Energy by 192.2% in the 4th 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 boosted its stake in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd acquired a new stake in Coterra Energy in the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd purchased a new stake in Coterra Energy during the 4th quarter worth approximately $43,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Morgan Stanley reduced their target price on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday. Raymond James cut their price objective on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Piper Sandler raised their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Finally, Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $34.35.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $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 SEC, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % 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.

Coterra Energy Trading Up 0.4 %

Shares of CTRA stock opened at $28.65 on Friday. The stock has a 50 day simple moving average of $27.91 and a 200-day simple moving average of $26.04. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a market cap of $21.89 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.07%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

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.