Axxcess Wealth Management LLC Has $952,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Axxcess Wealth Management LLC trimmed its holdings in Coterra Energy Inc. (NYSE:CTRA) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,707 shares of the company’s stock after selling 1,526 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coterra Energy were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC increased its stake in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Coterra Energy in the 1st quarter valued at $44,000. Harbor Investment Advisory LLC lifted its position in shares of Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in Coterra Energy during the first quarter worth $47,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $23.57 on Friday. The company has a market capitalization of $17.54 billion, a PE ratio of 13.62, a PEG ratio of 1.16 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $24.49 and its 200-day moving average price is $26.42. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that Coterra Energy Inc. will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.56%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTRA. Morgan Stanley dropped their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday. BMO Capital Markets raised Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Wolfe Research started coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective for the company. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Piper Sandler reduced their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.59.

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.