Coterra Energy Inc. $CTRA Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,365 shares of the company’s stock after selling 21,252 shares during the period. Allianz Asset Management GmbH’s holdings in Coterra Energy were worth $2,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Davis Selected Advisers acquired a new position in Coterra Energy in the second quarter valued at approximately $237,002,000. Vanguard Group Inc. lifted its holdings in shares of Coterra Energy by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after purchasing an additional 2,872,288 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Coterra Energy by 34.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company’s stock valued at $162,370,000 after purchasing an additional 1,741,125 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 5.9% during 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 purchasing an additional 1,495,553 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in Coterra Energy during the 2nd quarter worth $29,149,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Raymond James Financial raised their target price on Coterra Energy from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler dropped their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Susquehanna boosted their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research report on Tuesday, February 3rd. UBS Group upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Roth Mkm set a $28.00 price target on Coterra Energy and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Fifteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Down 2.7%

CTRA stock opened at $30.79 on Friday. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $31.66. The company’s 50 day simple moving average is $26.95 and its 200-day simple moving average is $25.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market capitalization of $23.44 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.76 and a beta of 0.38.

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.