Axa S.A. Boosts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Axa S.A. grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 306.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,183 shares of the company’s stock after purchasing an additional 80,030 shares during the period. Axa S.A.’s holdings in Coterra Energy were worth $2,712,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. AlTi Global Inc. grew its holdings in shares of Coterra Energy by 1.9% in the 4th quarter. AlTi Global Inc. now owns 37,927 shares of the company’s stock worth $969,000 after acquiring an additional 692 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Coterra Energy by 3.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 33,489 shares of the company’s stock valued at $855,000 after buying an additional 1,061 shares in the last quarter. Keel Point LLC acquired a new position in shares of Coterra Energy during the 4th quarter worth $210,000. Freestone Grove Partners LP purchased a new stake in shares of Coterra Energy in the 4th quarter worth about $4,681,000. Finally, Comerica Bank grew its stake in Coterra Energy by 3.1% in the 4th quarter. Comerica Bank now owns 130,540 shares of the company’s stock valued at $3,334,000 after acquiring an additional 3,888 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The stock was 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 approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTRA shares. The Goldman Sachs Group upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Coterra Energy from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. UBS Group reduced their price objective on Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays dropped their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Piper Sandler upped their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $33.85.

Coterra Energy Trading Up 2.3 %

NYSE:CTRA opened at $23.12 on Friday. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The business’s 50-day simple moving average is $26.36 and its 200 day simple moving average is $26.35.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. As a group, sell-side analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.81%. Coterra Energy’s dividend payout ratio (DPR) is presently 51.16%.

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.