WFA Asset Management Corp Invests $273,000 in Coterra Energy Inc. (NYSE:CTRA)

WFA Asset Management Corp purchased a new position in Coterra Energy Inc. (NYSE:CTRA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,700 shares of the company's stock, valued at approximately $273,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Algert Global LLC raised its holdings in shares of Coterra Energy by 16.3% in the 2nd quarter. Algert Global LLC now owns 14,625 shares of the company's stock worth $390,000 after purchasing an additional 2,055 shares during the period. Creative Planning raised its holdings in shares of Coterra Energy by 6.7% in the 2nd quarter. Creative Planning now owns 62,356 shares of the company's stock worth $1,663,000 after purchasing an additional 3,926 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Coterra Energy by 198.8% in the 2nd quarter. NewEdge Advisors LLC now owns 82,825 shares of the company's stock worth $2,209,000 after purchasing an additional 55,109 shares during the period. Cetera Investment Advisers raised its holdings in shares of Coterra Energy by 2.2% in the 2nd quarter. Cetera Investment Advisers now owns 213,650 shares of the company's stock worth $5,698,000 after purchasing an additional 4,555 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Coterra Energy in the 2nd quarter worth about $3,420,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now owns 77,075 shares of the company's stock, valued at $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler raised their price objective on Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, November 15th. UBS Group raised their target price on Coterra Energy from $31.00 to $35.00 and gave the company a "buy" rating in a report on Friday, November 15th. Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday. Finally, Stephens raised their target price on Coterra Energy from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.11.

Coterra Energy Stock Performance

Shares of CTRA traded up $0.20 during mid-day trading on Wednesday, hitting $28.23. The stock had a trading volume of 1,789,218 shares, compared to its average volume of 6,401,618. The company has a market cap of $20.80 billion, a PE ratio of 17.00, a PEG ratio of 0.56 and a beta of 0.26. The company's fifty day simple moving average is $26.59 and its two-hundred day simple moving average is $25.14. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Coterra Energy Company 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.