Allworth Financial LP Raises Stake in Coterra Energy Inc. (NYSE:CTRA)

Allworth Financial LP lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,409 shares of the company’s stock after buying an additional 689 shares during the quarter. Allworth Financial LP’s holdings in Coterra Energy were worth $470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CTRA. Blue Trust Inc. grew its holdings in shares of Coterra Energy by 118.5% during the third quarter. Blue Trust Inc. now owns 7,200 shares of the company’s stock worth $172,000 after buying an additional 3,905 shares in the last quarter. Raymond James & Associates grew its holdings in Coterra Energy by 8.3% in the third quarter. Raymond James & Associates now owns 1,286,545 shares of the company’s stock valued at $30,813,000 after purchasing an additional 98,882 shares during the period. Waldron Private Wealth LLC grew its holdings in Coterra Energy by 40.4% in the third quarter. Waldron Private Wealth LLC now owns 14,046 shares of the company’s stock valued at $336,000 after purchasing an additional 4,043 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in Coterra Energy in the third quarter valued at approximately $698,000. Finally, International Assets Investment Management LLC purchased a new stake in Coterra Energy in the third quarter valued at approximately $1,986,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTRA has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup boosted their target price 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. Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Piper Sandler boosted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.42.

Coterra Energy Trading Up 0.2 %

NYSE CTRA opened at $28.75 on Friday. The company’s fifty day simple moving average is $27.11 and its 200-day simple moving average is $25.34. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. 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 stock has a market cap of $21.17 billion, a P/E ratio of 17.32, a PEG ratio of 0.57 and a beta of 0.26.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

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.