Quadcap Wealth Management LLC Makes New $486,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Quadcap Wealth Management LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 19,042 shares of the company's stock, valued at approximately $486,000.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Coterra Energy by 1.9% during the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company's stock valued at $1,852,385,000 after purchasing an additional 1,318,754 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company's stock valued at $599,356,000 after acquiring an additional 1,310,965 shares during the period. Geode Capital Management LLC lifted its stake in shares of Coterra Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock valued at $486,528,000 after acquiring an additional 96,059 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Coterra Energy by 5.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company's stock valued at $454,834,000 after acquiring an additional 845,609 shares during the period. Finally, Invesco Ltd. lifted its stake in Coterra Energy by 9.0% in the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company's stock valued at $312,418,000 after buying an additional 1,011,166 shares during the period. 87.92% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction 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 approximately $3,374,617.40. This trade represents a 21.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now 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 disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Coterra Energy Stock Performance

CTRA stock traded up $0.01 during trading on Wednesday, reaching $24.89. The stock had a trading volume of 2,819,175 shares, compared to its average volume of 6,405,011. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The stock's 50 day moving average is $26.04 and its two-hundred day moving average is $26.42. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market cap of $19.00 billion, a PE ratio of 15.01, a PEG ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $924.00 million during the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. The business's quarterly revenue was up 32.9% on a year-over-year basis. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently disclosed 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. This represents a $0.88 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, May 15th. Coterra Energy's payout ratio is 51.16%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTRA. Barclays lowered their price target on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Scotiabank lowered their price target on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. Susquehanna decreased their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.50.

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.