Schroder Investment Management Group Sells 7,161,290 Shares of Coterra Energy Inc. $CTRA

Key Points

• Schroder Investment Management Group cut its Coterra stake by 52.8%, selling 7,161,290 shares in Q3 and now holds 6,413,811 shares (~0.84%) valued at $151.6 million.
• Other major managers—Vanguard, State Street, Charles Schwab, Victory Capital and Geode—raised their holdings, leaving institutional ownership at about 87.92%.
• Coterra has a market cap of $23.66B and a P/E of 13.67, announced a quarterly dividend of $0.22 per share (2.8% yield, ex-dividend March 11), and carries a consensus "Moderate Buy" with an average target of $34.

Schroder Investment Management Group decreased its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 52.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,413,811 shares of the company's stock after selling 7,161,290 shares during the quarter. Schroder Investment Management Group owned about 0.84% of Coterra Energy worth $151,622,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CTRA. Vanguard Group Inc. boosted its stake in Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. State Street Corp increased its position in Coterra Energy by 0.9% during the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company's stock worth $1,157,032,000 after buying an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 5.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company's stock worth $680,197,000 after buying an additional 1,495,553 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Coterra Energy by 2.5% during the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company's stock worth $510,410,000 after buying an additional 534,132 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Coterra Energy by 4.8% during the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company's stock worth $522,936,000 after buying an additional 953,824 shares in the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of CTRA stock opened at $31.16 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $32.67. The company has a market cap of $23.66 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.77 and a beta of 0.37. The business has a fifty day simple moving average of $28.61 and a 200 day simple moving average of $26.16.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.88 annualized dividend and a yield of 2.8%. Coterra Energy's payout ratio is presently 38.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Zacks Research downgraded shares of Coterra Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, January 19th. TD Cowen dropped their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. Mizuho boosted their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, January 15th. Texas Capital lowered shares of Coterra Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 in a report on Monday. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Coterra Energy Company Profile

Coterra Energy NYSE: CTRA is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.

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