Allspring Global Investments Holdings LLC Acquires 79,463 Shares of Coterra Energy Inc. (NYSE:CTRA)

Allspring Global Investments Holdings LLC grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 227.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,328 shares of the company’s stock after purchasing an additional 79,463 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coterra Energy were worth $2,989,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after purchasing an additional 284,106 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred 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 in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Price Performance

NYSE CTRA opened at $28.16 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market capitalization of $20.74 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The firm’s 50 day moving average is $27.17 and its 200-day moving average is $25.37.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent research reports. Piper Sandler raised their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Citigroup increased their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Mizuho increased their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Jefferies Financial Group increased their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Finally, Barclays increased their price target on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Three 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.42.

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.