AXQ Capital LP Has $887,000 Stock Position in Coterra Energy Inc. (NYSE:CTRA)

AXQ Capital LP trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,749 shares of the company’s stock after selling 11,076 shares during the quarter. AXQ Capital LP’s holdings in Coterra Energy were worth $887,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CTRA. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Czech National Bank grew its stake in Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after purchasing an additional 9,115 shares during the period. Bourgeon Capital Management LLC grew its position in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after buying an additional 122,487 shares during the period. Hartford Funds Management Co LLC bought a new stake in Coterra Energy in the third quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in Coterra Energy in the 4th quarter valued at about $217,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CTRA shares. Barclays lifted their price target on shares of Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup lifted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Mizuho upped their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, Truist Financial increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.14.

Coterra Energy Trading Down 1.0 %

NYSE CTRA opened at $28.73 on Friday. The firm has a market cap of $21.95 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The stock has a 50-day moving average of $27.94 and a 200-day moving average of $25.82. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio is 58.28%.

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.