Axxcess Wealth Management LLC Has $956,000 Stake in Coterra Energy Inc. (NYSE:CTRA)

Axxcess Wealth Management LLC grew its position in Coterra Energy Inc. (NYSE:CTRA) by 70.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,452 shares of the company’s stock after buying an additional 15,427 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coterra Energy were worth $956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTRA. SouthState Corp raised its position in shares of Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Coterra Energy during the 4th quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy during the 4th quarter valued at approximately $33,000. VisionPoint Advisory Group LLC grew its holdings in shares of Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after purchasing an additional 740 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in Coterra Energy by 397.7% during the 4th quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after acquiring an additional 1,392 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Susquehanna boosted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday. Barclays initiated coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price on the stock. Stephens reissued an “overweight” rating and set a $39.00 target price on shares of Coterra Energy in a report on Tuesday, January 23rd. Finally, Scotiabank boosted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.73.

Coterra Energy Stock Up 0.5 %

Coterra Energy stock opened at $28.34 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. Coterra Energy Inc. has a 12-month low of $22.91 and a 12-month high of $29.89. The firm’s fifty day moving average is $27.35 and its 200 day moving average is $26.35. The company has a market capitalization of $21.31 billion, a PE ratio of 16.38 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.82 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.96%. Coterra Energy’s payout ratio is presently 48.55%.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of the 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 in the company, valued at $4,783,071.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

About Coterra Energy

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.