Coterra Energy Inc. $CTRA Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. cut its holdings in Coterra Energy Inc. (NYSE:CTRA) by 71.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 92,908 shares of the company’s stock after selling 229,725 shares during the period. Cibc World Market Inc.’s holdings in Coterra Energy were worth $2,197,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Concurrent Investment Advisors LLC grew its stake in Coterra Energy by 73.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,042 shares of the company’s stock worth $331,000 after buying an additional 5,517 shares during the last quarter. TD Asset Management Inc lifted its position in Coterra Energy by 3.2% in the 2nd quarter. TD Asset Management Inc now owns 271,253 shares of the company’s stock valued at $6,884,000 after purchasing an additional 8,493 shares during the last quarter. Nordea Investment Management AB lifted its position in Coterra Energy by 43.2% in the 2nd quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock valued at $1,468,000 after purchasing an additional 17,373 shares during the last quarter. Private Trust Co. NA boosted its stake in Coterra Energy by 366.7% during the 2nd quarter. Private Trust Co. NA now owns 12,321 shares of the company’s stock valued at $313,000 after purchasing an additional 9,681 shares during the period. Finally, Chevy Chase Trust Holdings LLC grew its position in Coterra Energy by 4.2% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 403,149 shares of the company’s stock worth $10,232,000 after purchasing an additional 16,242 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $31.35 on Tuesday. 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’s 50 day moving average is $27.13 and its 200-day moving average is $25.41. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $31.66. The stock has a market capitalization of $23.87 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.78 and a beta of 0.38.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price target on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 12th. Johnson Rice cut their target price on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. BMO Capital Markets decreased their price target on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Stephens raised their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, February 3rd. Fifteen research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.