Rhumbline Advisers Increases Holdings in Coterra Energy Inc. $CTRA

Rhumbline Advisers raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 5.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,598,767 shares of the company’s stock after acquiring an additional 83,142 shares during the quarter. Rhumbline Advisers’ holdings in Coterra Energy were worth $37,811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CTRA. Advisors Asset Management Inc. raised its holdings in shares of Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after buying an additional 398 shares during the period. Profund Advisors LLC grew its position in Coterra Energy by 1.4% in the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares in the last quarter. AAFMAA Wealth Management & Trust LLC raised its stake in shares of Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after purchasing an additional 429 shares during the period. Trust Co. of Vermont lifted its position in shares of Coterra Energy by 1.5% during the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock worth $729,000 after purchasing an additional 454 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Coterra Energy by 2.1% in the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock valued at $538,000 after purchasing an additional 462 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of recent analyst reports. William Blair initiated coverage on shares of Coterra Energy in a report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target for the company. Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. TD Cowen reduced their price target on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Susquehanna lifted their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Finally, Wolfe Research increased their target price on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Up 1.8%

Shares of NYSE:CTRA opened at $31.35 on Friday. The company’s fifty day moving average is $27.03 and its two-hundred day moving average is $25.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $31.66. The stock has a market capitalization of $23.87 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.78 and a beta of 0.38.

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.