Mediolanum International Funds Ltd grew its stake in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 577.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 55,568 shares of the company's stock after purchasing an additional 47,362 shares during the period. Mediolanum International Funds Ltd's holdings in Coterra Energy were worth $1,415,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. City State Bank bought a new position in shares of Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC grew its stake in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in shares of Coterra Energy during the 4th quarter valued at $32,000. Finally, Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the 3rd quarter worth $57,000. 87.92% of the stock is owned by hedge funds and other institutional investors.
Coterra Energy Stock Down 2.7 %
Shares of NYSE CTRA traded down $0.76 on Thursday, reaching $27.36. 5,652,753 shares of the company's stock traded hands, compared to its average volume of 6,454,299. The business's 50 day simple moving average is $26.62 and its two-hundred day simple moving average is $25.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, November 14th. Citigroup upped their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Raymond James boosted their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, Stephens upped their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.11.
Check Out Our Latest Report on CTRA
Insider Buying and Selling at Coterra Energy
In other news, SVP Kevin William Smith sold 29,643 shares of the firm's 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 owns 77,075 shares of the company's stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred 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 owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade 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 company insiders.
About Coterra Energy
(
Free Report)
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.
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