Daiwa Securities Group Inc. Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Daiwa Securities Group Inc. lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 10.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,377 shares of the company’s stock after purchasing an additional 8,875 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Coterra Energy were worth $2,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTRA. Fortitude Family Office LLC grew its holdings in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC grew its holdings in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the third quarter valued at about $57,000. Tobam purchased a new stake in shares of Coterra Energy in the third quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 0.4 %

Shares of NYSE:CTRA opened at $26.68 on Friday. The firm’s 50 day moving average price is $24.65 and its 200 day moving average price is $25.41. The stock has a market cap of $19.65 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.75 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. As a group, equities research analysts predict that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.15%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTRA. Truist Financial increased their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Mizuho increased their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Morgan Stanley increased their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.47.

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.