Penserra Capital Management LLC Acquires 25,109 Shares of Coterra Energy Inc. $CTRA

Penserra Capital Management LLC increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 39,855.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,172 shares of the company’s stock after acquiring an additional 25,109 shares during the quarter. Penserra Capital Management LLC’s holdings in Coterra Energy were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC bought a new stake in shares of Coterra Energy during the 2nd quarter valued at $26,000. Winnow Wealth LLC purchased a new position in Coterra Energy during the third quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new stake in Coterra Energy during the third quarter valued at about $29,000. Tobam increased its position in Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after buying an additional 615 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Coterra Energy in the second quarter worth about $50,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Trading Up 1.3%

Shares of CTRA stock opened at $30.70 on Friday. The stock’s 50-day moving average price is $26.64 and its 200-day moving average price is $25.10. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $30.94. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.38. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Susquehanna increased their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research note on Tuesday, February 3rd. Raymond James Financial raised their price objective on shares of Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Finally, Johnson Rice dropped their target price on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Fourteen equities 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 MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $33.40.

Coterra Energy Profile

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.