Truist Financial Corp Acquires 1,406,170 Shares of Coterra Energy Inc. (NYSE:CTRA)

Truist Financial Corp boosted its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 668.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,616,660 shares of the company's stock after acquiring an additional 1,406,170 shares during the period. Truist Financial Corp owned 0.22% of Coterra Energy worth $41,289,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co boosted its position in Coterra Energy by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock valued at $559,000 after buying an additional 389 shares in the last quarter. Arkadios Wealth Advisors grew its position in Coterra Energy by 3.8% during the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock worth $288,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. increased its holdings in Coterra Energy by 5.8% during the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company's stock valued at $182,000 after purchasing an additional 420 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Coterra Energy by 3.5% during the fourth quarter. V Square Quantitative Management LLC now owns 13,137 shares of the company's stock worth $336,000 after purchasing an additional 440 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Coterra Energy by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company's stock valued at $804,000 after buying an additional 474 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company's stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays raised 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. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Truist Financial boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Raymond James raised their price target on Coterra Energy from $35.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.42.

Coterra Energy Trading Down 2.2 %

NYSE:CTRA traded down $0.63 on Friday, reaching $28.16. The company's stock had a trading volume of 5,815,729 shares, compared to its average volume of 5,981,290. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The business's 50-day moving average price is $27.11 and its two-hundred day moving average price is $25.34. The firm has a market cap of $20.74 billion, a PE ratio of 16.96, a PEG ratio of 0.59 and a beta of 0.26. 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 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.