Royal London Asset Management Ltd. Has $49.40 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Royal London Asset Management Ltd. lessened its stake in Coterra Energy Inc. (NYSE:CTRA) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,934,235 shares of the company’s stock after selling 143,170 shares during the quarter. Royal London Asset Management Ltd. owned about 0.26% of Coterra Energy worth $49,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRA. City State Bank acquired a new stake in Coterra Energy in the 4th quarter valued at about $26,000. AdvisorNet Financial Inc increased its position in 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 acquiring an additional 744 shares in the last quarter. MCF Advisors LLC increased its position in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares in the last quarter. R Squared Ltd bought a new position in shares of Coterra Energy in the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd bought a new position in shares of Coterra Energy in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRA has been the topic of several recent research reports. Barclays raised their target price on shares of Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group raised their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their target price for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Price Performance

NYSE CTRA opened at $29.03 on Friday. 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 Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market capitalization of $22.18 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The firm’s 50 day moving average is $27.92 and its 200-day moving average is $25.79.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $0.22 dividend. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.03%. Coterra Energy’s dividend payout ratio (DPR) is 58.28%.

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.