Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 7.5% during the fourth quarter, Holdings Channel reports. The firm owned 95,225 shares of the company’s stock after purchasing an additional 6,666 shares during the period. Avantax Advisory Services Inc.’s holdings in Coterra Energy were worth $2,432,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. City State Bank purchased a new stake in Coterra Energy during the 4th quarter worth $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC boosted its position in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in Coterra Energy during the 4th quarter worth $32,000. Finally, Plato Investment Management Ltd purchased a new stake in Coterra Energy during the 4th quarter worth $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction 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. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CTRA shares. Citigroup upped their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays upped their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Truist Financial upped their price objective 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.10.

Coterra Energy Price Performance

CTRA opened at $27.66 on Monday. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company’s 50-day moving average price is $27.75 and its 200 day moving average price is $25.68. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.18%. Coterra Energy’s dividend payout ratio is 58.28%.

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.