Hourglass Capital LLC Has $1.18 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

Hourglass Capital LLC increased its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 183.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,350 shares of the company's stock after purchasing an additional 30,000 shares during the period. Hourglass Capital LLC's holdings in Coterra Energy were worth $1,184,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 305,626 shares during the period. Czech National Bank grew its position in Coterra Energy by 6.1% in the fourth quarter. Czech National Bank now owns 159,713 shares of the company's stock valued at $4,079,000 after acquiring an additional 9,115 shares during the period. Bourgeon Capital Management LLC grew its position in Coterra Energy by 107.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock valued at $6,052,000 after acquiring an additional 122,487 shares during the period. Hartford Funds Management Co LLC bought a new stake in Coterra Energy in the third quarter valued at $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in Coterra Energy in the fourth quarter valued at $217,000. 87.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 directly owns 77,075 shares of the company's stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Stock Up 2.9 %

Shares of NYSE:CTRA traded up $0.82 during mid-day trading on Wednesday, reaching $28.71. 6,448,098 shares of the stock were exchanged, compared to its average volume of 6,053,757. 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 company has a market cap of $21.14 billion, a P/E ratio of 17.29, a P/E/G ratio of 0.57 and a beta of 0.26. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock's 50 day simple moving average is $27.05 and its 200-day simple moving average is $25.32.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTRA. Citigroup upped their price target on Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Jefferies Financial Group boosted their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. Raymond James boosted their price objective on Coterra Energy from $35.00 to $41.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Stephens boosted their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Morgan Stanley boosted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. 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. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and an average 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.