Coterra Energy Inc. (NYSE:CTRA) Position Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 87.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,488 shares of the company's stock after purchasing an additional 65,107 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Coterra Energy were worth $3,563,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in 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 buying an additional 15,736,247 shares during the period. Holocene Advisors LP grew its holdings in shares of Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company's stock worth $108,572,000 after acquiring an additional 2,954,675 shares during the period. Weiss Asset Management LP purchased a new position in Coterra Energy in the 3rd quarter valued at approximately $28,380,000. Erste Asset Management GmbH acquired a new position in Coterra Energy during the third quarter worth $21,555,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CTRA. Citigroup raised their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Piper Sandler lifted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Barclays lifted their price objective on Coterra Energy from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, UBS Group lifted their price target on Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday. Three research 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.42.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value 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 $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company's 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 completion of the transaction, the senior vice president now directly owns 72,409 shares of the company's stock, valued at approximately $1,937,664.84. The trade was 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 owned by corporate insiders.

Coterra Energy Stock Up 0.2 %

Coterra Energy stock traded up $0.05 during trading on Thursday, reaching $27.61. 4,574,024 shares of the company's stock were exchanged, compared to its average volume of 6,147,856. The company's 50-day moving average is $26.77 and its two-hundred day moving average is $25.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.56 and a beta of 0.26.

About Coterra Energy

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.