AXQ Capital LP Decreases Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

AXQ Capital LP trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,749 shares of the company's stock after selling 11,076 shares during the quarter. AXQ Capital LP's holdings in Coterra Energy were worth $887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in Coterra Energy by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 471,256 shares of the company's stock worth $11,287,000 after purchasing an additional 3,920 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Coterra Energy during the third quarter worth about $360,000. Advisors Asset Management Inc. boosted its position in Coterra Energy by 2.1% during the third quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company's stock valued at $1,573,000 after purchasing an additional 1,333 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock valued at $530,645,000 after purchasing an additional 305,626 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in Coterra Energy by 101.2% in the third quarter. Eagle Asset Management Inc. now owns 387,665 shares of the company's stock valued at $9,529,000 after acquiring an additional 194,986 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Williams Trading set a $37.00 target price on Coterra Energy in a report on Wednesday, March 5th. Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and increased their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. UBS Group boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Truist Financial increased their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.30.

Coterra Energy Stock Performance

Shares of CTRA traded down $0.42 on Wednesday, reaching $28.89. The company's stock had a trading volume of 7,677,319 shares, compared to its average volume of 5,882,073. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The stock has a market capitalization of $22.08 billion, a P/E ratio of 17.40, a PEG ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock's 50 day simple moving average is $27.96 and its two-hundred day simple moving average is $25.93.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.05%. This is an increase from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's dividend payout ratio (DPR) is 58.28%.

Insider Activity

In other Coterra Energy 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 value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

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.