Asahi Life Asset Management CO. LTD. Invests $345,000 in Coterra Energy Inc. (NYSE:CTRA)

Asahi Life Asset Management CO. LTD. acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 13,510 shares of the company’s stock, valued at approximately $345,000.

Several other institutional investors have also recently added to or reduced their stakes in CTRA. City State Bank purchased a new stake in Coterra Energy during the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its stake in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Coterra Energy during the fourth quarter worth approximately $32,000. Finally, Deseret Mutual Benefit Administrators raised its stake in shares of Coterra Energy by 33.2% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company’s stock worth $44,000 after purchasing an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTRA. Citigroup upped their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley raised their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays lifted their price objective on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Susquehanna raised their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.47.

Coterra Energy Stock Performance

Coterra Energy stock opened at $27.01 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock’s 50 day moving average price is $27.47 and its 200 day moving average price is $25.49. The firm has a market capitalization of $20.64 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.26%. Coterra Energy’s payout ratio is currently 58.28%.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

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.