HighTower Advisors LLC Increases Stock Holdings in Coterra Energy Inc. $CTRA

HighTower Advisors LLC increased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 86.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 202,191 shares of the company’s stock after purchasing an additional 93,517 shares during the quarter. HighTower Advisors LLC’s holdings in Coterra Energy were worth $4,782,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. lifted its holdings in shares of Coterra Energy by 1.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 313,613 shares of the company’s stock worth $7,959,000 after acquiring an additional 4,996 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Coterra Energy by 17.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,003,404 shares of the company’s stock worth $50,846,000 after purchasing an additional 300,627 shares during the last quarter. AlphaQuest LLC raised its stake in Coterra Energy by 52.4% during the second quarter. AlphaQuest LLC now owns 15,125 shares of the company’s stock worth $384,000 after purchasing an additional 5,203 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Coterra Energy in the 2nd quarter valued at $246,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Coterra Energy by 11.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 280,079 shares of the company’s stock valued at $7,108,000 after buying an additional 28,298 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

CTRA stock opened at $30.48 on Wednesday. The firm has a market cap of $23.20 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. 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 $32.67. The stock has a 50-day simple moving average of $27.70 and a 200-day simple moving average of $25.71.

Wall Street Analyst Weigh In

CTRA has been the topic of several research reports. Roth Mkm set a $28.00 target price on Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. William Blair assumed coverage on Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target for the company. Barclays reduced their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. UBS Group increased their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Stephens raised their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.48.

Coterra Energy Company 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.