Coterra Energy Inc. $CTRA Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Coterra Energy Inc. (NYSE:CTRA) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 862,942 shares of the company’s stock after selling 29,194 shares during the period. Principal Financial Group Inc. owned 0.11% of Coterra Energy worth $20,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Davis Selected Advisers acquired a new position in shares of Coterra Energy during the 2nd quarter valued at $237,002,000. Vanguard Group Inc. grew its holdings in Coterra Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after acquiring an additional 2,872,288 shares during the period. Bank of New York Mellon Corp raised its position in Coterra Energy by 34.0% in the third quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company’s stock worth $162,370,000 after acquiring an additional 1,741,125 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Coterra Energy by 5.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after acquiring an additional 1,495,553 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Coterra Energy during the second quarter valued at approximately $29,149,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $30.70 on Monday. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.74 and a beta of 0.38. The firm’s 50-day moving average price is $26.64 and its two-hundred day moving average price is $25.12. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $30.94.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Mizuho lifted their target price on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Raymond James Financial upped their price objective on shares of Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. Barclays cut their target price on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Finally, Siebert Williams Shank raised their target price on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Fourteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.40.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.