Axxcess Wealth Management LLC Sells 12,081 Shares of Coterra Energy Inc. (NYSE:CTRA)

Axxcess Wealth Management LLC lessened its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,271 shares of the company's stock after selling 12,081 shares during the period. Axxcess Wealth Management LLC's holdings in Coterra Energy were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CTRA. Thrivent Financial for Lutherans boosted its holdings in shares of 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 acquiring an additional 3,920 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Coterra Energy in the 3rd quarter valued at $360,000. Advisors Asset Management Inc. grew its holdings in Coterra Energy by 2.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company's stock valued at $1,573,000 after buying an additional 1,333 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock worth $530,645,000 after buying an additional 305,626 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of 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 period. Institutional investors and hedge funds own 87.92% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of Coterra Energy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and lifted their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Williams Trading set a $37.00 price target on Coterra Energy in a research report on Wednesday, March 5th. Citigroup lifted their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Raymond James reduced their target price on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Three research 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $34.30.

Coterra Energy Trading Down 1.4 %

Shares of NYSE:CTRA traded down $0.42 during mid-day trading on Wednesday, reaching $28.89. 7,677,319 shares of the company's stock were exchanged, compared to its average volume of 5,882,531. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The business's fifty day moving average price is $27.96 and its 200-day moving average price is $25.93. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Thursday, March 13th. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. Coterra Energy's payout ratio is 58.28%.

Insider Activity

In other news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction 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 represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

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.