Axxcess Wealth Management LLC Sells 1,271 Shares of Coterra Energy Inc. $CTRA

Axxcess Wealth Management LLC decreased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,111 shares of the company’s stock after selling 1,271 shares during the period. Axxcess Wealth Management LLC’s holdings in Coterra Energy were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Saxon Interests Inc. lifted its position in Coterra Energy by 5.1% during the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock valued at $269,000 after purchasing an additional 451 shares during the period. Tectonic Advisors LLC lifted its position in Coterra Energy by 3.2% during the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after purchasing an additional 459 shares during the period. Hartford Funds Management Co LLC increased its holdings in Coterra Energy by 1.4% during the first quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock valued at $1,020,000 after buying an additional 472 shares during the last quarter. Horizon Investments LLC increased its holdings in Coterra Energy by 4.5% during the first quarter. Horizon Investments LLC now owns 10,935 shares of the company’s stock valued at $316,000 after buying an additional 474 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its holdings in Coterra Energy by 4.0% during the first quarter. Argonautica Private Wealth Management Inc. now owns 12,282 shares of the company’s stock valued at $355,000 after buying an additional 477 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $22.82 on Friday. The firm has a fifty day moving average price of $23.80 and a 200-day moving average price of $24.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock has a market cap of $17.41 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29. Coterra Energy Inc. has a 1 year low of $22.33 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.9%. Coterra Energy’s dividend payout ratio is currently 42.11%.

Analysts Set New Price Targets

A number of brokerages have commented on CTRA. JPMorgan Chase & Co. upped their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Siebert Williams Shank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a report on Monday, October 13th. The Goldman Sachs Group reduced their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Piper Sandler upped their target price on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Coterra Energy 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.