Nordea Investment Management AB Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

Nordea Investment Management AB decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 75.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,670 shares of the company's stock after selling 606,309 shares during the period. Nordea Investment Management AB's holdings in Coterra Energy were worth $5,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC purchased a new stake in Coterra Energy during the fourth quarter valued at approximately $25,000. SouthState Corp increased its holdings in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company's stock valued at $29,000 after buying an additional 454 shares during the last quarter. VisionPoint Advisory Group LLC increased its holdings in Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company's stock valued at $35,000 after buying an additional 740 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in Coterra Energy during the first quarter valued at approximately $41,000. Finally, Missouri Trust & Investment Co purchased a new stake in Coterra Energy during the second quarter valued at approximately $41,000. Institutional investors own 90.54% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTRA. Wells Fargo & Company upgraded shares of Coterra Energy from an "equal weight" rating to an "overweight" rating and set a $30.00 price objective on the stock in a research report on Thursday, December 14th. Susquehanna upgraded Coterra Energy from a "neutral" rating to a "positive" rating and cut their price target for the stock from $31.00 to $30.00 in a research note on Friday, January 26th. Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Friday. Mizuho cut their price target on Coterra Energy from $35.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Bank of America upgraded Coterra Energy from a "neutral" rating to a "buy" rating and set a $31.00 price target for the company in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.85.

Insider Activity at Coterra Energy

In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares of the company's stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares of the company's stock, valued at $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded down $0.11 during trading on Friday, reaching $27.29. 6,926,710 shares of the stock traded hands, compared to its average volume of 7,848,911. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 0.25 and a beta of 0.20. The business has a fifty day simple moving average of $25.47 and a two-hundred day simple moving average of $26.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy Inc. has a 52-week low of $22.66 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.54 billion. Sell-side analysts expect that Coterra Energy Inc. will post 1.99 EPS for the current year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be issued a $0.21 dividend. This is an increase from Coterra Energy's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.08%. Coterra Energy's dividend payout ratio (DPR) is presently 39.25%.

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.