State of Alaska Department of Revenue Sells 65,435 Shares of Coterra Energy Inc. (NYSE:CTRA)

State of Alaska Department of Revenue cut its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 43.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,982 shares of the company's stock after selling 65,435 shares during the quarter. State of Alaska Department of Revenue's holdings in Coterra Energy were worth $2,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bleakley Financial Group LLC boosted its holdings in Coterra Energy by 7.0% during the fourth quarter. Bleakley Financial Group LLC now owns 17,423 shares of the company's stock worth $445,000 after purchasing an additional 1,142 shares during the last quarter. Tyche Wealth Partners LLC bought a new stake in Coterra Energy in the fourth quarter worth about $266,000. Econ Financial Services Corp bought a new stake in Coterra Energy in the fourth quarter worth about $1,819,000. Choreo LLC raised its position in Coterra Energy by 23.7% in the fourth quarter. Choreo LLC now owns 27,832 shares of the company's stock worth $710,000 after acquiring an additional 5,336 shares during the period. Finally, Tectonic Advisors LLC bought a new stake in Coterra Energy in the fourth quarter worth about $367,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded down $0.05 during trading on Friday, reaching $27.55. The company had a trading volume of 4,548,022 shares, compared to its average volume of 6,094,574. The company has a fifty day moving average of $26.87 and a two-hundred day moving average of $25.26. The stock has a market capitalization of $20.29 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 0.56 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. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Insider Transactions at Coterra Energy

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. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on 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 in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

CTRA has been the topic of several research reports. Barclays lifted their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Stephens lifted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday. Susquehanna boosted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a "positive" rating in a research report on Thursday, November 14th. Finally, Raymond James boosted their price target 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. Three research 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 company's stock. According to MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price 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.