Beaumont Asset Management L.L.C. Takes Position in Coterra Energy Inc. (NYSE:CTRA)

Beaumont Asset Management L.L.C. bought a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 22,060 shares of the company's stock, valued at approximately $563,000.

Several other hedge funds have also made changes to their positions in CTRA. Czech National Bank increased its position in Coterra Energy by 6.2% during the 3rd quarter. Czech National Bank now owns 150,598 shares of the company's stock valued at $3,607,000 after buying an additional 8,777 shares in the last quarter. Brookstone Capital Management acquired a new position in Coterra Energy during the 3rd quarter valued at about $211,000. Tobam acquired a new position in Coterra Energy during the 3rd quarter valued at about $63,000. BWM Planning LLC acquired a new position in Coterra Energy during the 3rd quarter valued at about $1,257,000. Finally, Inspire Investing LLC increased its position in Coterra Energy by 18.9% during the 3rd quarter. Inspire Investing LLC now owns 12,067 shares of the company's stock valued at $289,000 after buying an additional 1,919 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

CTRA stock traded down $0.99 during midday trading on Wednesday, reaching $27.55. The company had a trading volume of 4,772,786 shares, compared to its average volume of 6,204,042. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $26.77 and a 200 day moving average price of $25.23. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The firm has a market capitalization of $20.29 billion, a PE ratio of 16.60, a P/E/G ratio of 0.56 and a beta of 0.26.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research reports. Raymond James increased their price objective on Coterra Energy from $35.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Piper Sandler upped their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Barclays increased their price target on Coterra Energy from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. UBS Group increased their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Morgan Stanley increased their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.32.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares of the company's stock, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares of the company's stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.