Cadence Wealth Management LLC Buys 472 Shares of Coterra Energy Inc. (NYSE:CTRA)

Cadence Wealth Management LLC increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,880 shares of the company’s stock after acquiring an additional 472 shares during the quarter. Cadence Wealth Management LLC’s holdings in Coterra Energy were worth $303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Private Trust Co. NA increased its position in Coterra Energy by 20.0% during the fourth 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 position in Coterra Energy by 1.8% during the fourth 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 position in Coterra Energy by 3.8% during the fourth 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 position in Coterra Energy by 5.8% during the fourth 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 position in Coterra Energy by 0.4% during the fourth 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. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Coterra Energy stock opened at $28.16 on Tuesday. 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 Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a market cap of $21.52 billion, a PE ratio of 16.97, a PEG ratio of 0.59 and a beta of 0.26. The company’s 50-day moving average is $27.79 and its two-hundred day moving average is $25.71.

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 given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase 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 dividend payout ratio is presently 58.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays boosted their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Mizuho boosted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Citigroup boosted their price target 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. UBS Group boosted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Raymond James lowered their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.10.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Company 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.