Wealthcare Advisory Partners LLC Acquires New Position in Coterra Energy Inc. (NYSE:CTRA)

Wealthcare Advisory Partners LLC bought a new position in Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,405 shares of the company’s stock, valued at approximately $444,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Beacon Investment Advisors LLC raised its position in Coterra Energy by 0.7% in the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after buying an additional 422 shares during the last quarter. Stone House Investment Management LLC boosted its position in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares during the last quarter. SouthState Corp grew its position in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after buying an additional 454 shares during the period. Trust Co. of Vermont lifted its position in Coterra Energy by 1.9% during the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after purchasing an additional 503 shares in the last quarter. Finally, Cascade Investment Advisors Inc. grew its stake in shares of Coterra Energy by 1.1% during the 4th quarter. Cascade Investment Advisors Inc. now owns 51,140 shares of the company’s stock valued at $1,305,000 after acquiring an additional 535 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE CTRA opened at $28.49 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 0.89. The business’s 50 day moving average price is $27.50 and its 200-day moving average price is $26.37. The company has a market cap of $21.20 billion, a P/E ratio of 16.47 and a beta of 0.22. Coterra Energy Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $29.89.

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

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.95%. Coterra Energy’s payout ratio is 48.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Susquehanna boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday. Stifel Nicolaus cut their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Raymond James lifted their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.73.

Insider Transactions at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on 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 $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.