Coterra Energy Inc. (NYSE:CTRA) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its position in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 75.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,922 shares of the company's stock after purchasing an additional 239,193 shares during the period. Empowered Funds LLC owned about 0.08% of Coterra Energy worth $14,249,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CTRA. Wellington Management Group LLP raised its holdings in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock valued at $1,705,480,000 after buying an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock valued at $530,645,000 after buying an additional 305,626 shares during the period. Geode Capital Management LLC raised its holdings in Coterra Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company's stock valued at $453,628,000 after buying an additional 128,397 shares during the period. Victory Capital Management Inc. raised its holdings in Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company's stock valued at $406,266,000 after buying an additional 195,966 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company's stock valued at $128,085,000 after buying an additional 284,106 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction 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. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy 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 sale, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Stock Performance

Coterra Energy stock traded down $0.99 during mid-day trading on Wednesday, reaching $27.55. The company's stock had a trading volume of 4,772,786 shares, compared to its average volume of 6,204,042. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 0.56 and a beta of 0.26. The business has a 50 day moving average price of $26.77 and a 200-day moving average price of $25.23. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Analysts Set New Price Targets

Several research analysts recently commented on CTRA shares. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday. Raymond James increased their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Wells Fargo & Company increased their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Finally, Barclays increased their price objective 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 analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.32.

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.