Chevy Chase Trust Holdings LLC Sells 11,986 Shares of Coterra Energy Inc. (NYSE:CTRA)

Chevy Chase Trust Holdings LLC lowered its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,541 shares of the company's stock after selling 11,986 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Coterra Energy worth $9,872,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CTRA. Wellington Management Group LLP lifted its holdings in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the period. Holocene Advisors LP lifted its holdings in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company's stock worth $108,572,000 after purchasing an additional 2,954,675 shares during the period. Weiss Asset Management LP acquired a new position in shares of Coterra Energy during the third quarter worth $28,380,000. Erste Asset Management GmbH acquired a new position in shares of Coterra Energy during the third quarter worth $21,555,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Coterra Energy by 395.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company's stock worth $21,551,000 after purchasing an additional 718,182 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded up $0.06 on Thursday, hitting $28.75. 3,827,469 shares of the company traded hands, compared to its average volume of 5,986,250. The firm's 50-day simple moving average is $27.05 and its 200 day simple moving average is $25.32. 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 company has a market cap of $21.17 billion, a P/E ratio of 17.32, a P/E/G ratio of 0.57 and a beta of 0.26. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

Insider Activity

In related news, SVP Kevin William Smith sold 29,643 shares of the 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 transaction, the senior vice president now owns 77,075 shares of the company's stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. Piper Sandler boosted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. 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. The Goldman Sachs Group 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 Wednesday, February 12th. Finally, UBS Group upped their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.42.

Coterra Energy Company 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.