Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Cadence Wealth Management LLC

Cadence Wealth Management LLC grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,880 shares of the company’s stock after purchasing an additional 472 shares during the period. Cadence Wealth Management LLC’s holdings in Coterra Energy were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Private Trust Co. NA increased its holdings in shares of Coterra Energy by 20.0% in the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after acquiring an additional 356 shares during the period. CENTRAL TRUST Co increased its holdings in shares of Coterra Energy by 1.8% in the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after acquiring an additional 389 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. increased its holdings in shares of Coterra Energy by 5.8% in the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after acquiring an additional 420 shares during the period. Finally, New York Life Investment Management LLC increased its holdings in shares of Coterra Energy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after acquiring an additional 421 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

NYSE CTRA opened at $28.16 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $21.52 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a 50 day moving average price of $27.79 and a two-hundred day moving average price of $25.71. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.12%. Coterra Energy’s payout ratio is 58.28%.

Insider Buying and Selling at Coterra Energy

In other news, 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 value of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTRA. The Goldman Sachs Group increased their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Raymond James decreased their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $34.10.

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.