Channing Capital Management LLC Increases Stake in Coterra Energy Inc. $CTRA

Channing Capital Management LLC increased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 28.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,624 shares of the company’s stock after purchasing an additional 38,897 shares during the period. Channing Capital Management LLC’s holdings in Coterra Energy were worth $4,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTRA. Winnow Wealth LLC acquired a new stake in shares of Coterra Energy in the third quarter valued at about $29,000. Atlantic Union Bankshares Corp purchased a new stake in Coterra Energy in the 3rd quarter valued at approximately $29,000. Tobam raised its holdings in shares of Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after acquiring an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Coterra Energy in the second quarter valued at $50,000. Finally, Bogart Wealth LLC boosted its stake in shares of Coterra Energy by 97.8% during the third quarter. Bogart Wealth LLC now owns 2,022 shares of the company’s stock valued at $48,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTRA. Johnson Rice decreased their price target on shares of Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Siebert Williams Shank lifted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. William Blair initiated coverage on Coterra Energy in a report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target for the company. Mizuho raised their price objective on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Finally, TD Cowen lowered their price objective on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.48.

Coterra Energy Stock Down 1.4%

Shares of NYSE CTRA opened at $31.25 on Monday. The stock has a market capitalization of $23.79 billion, a PE ratio of 14.40, a P/E/G ratio of 0.78 and a beta of 0.38. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $27.51 and a 200-day moving average of $25.62. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $32.67.

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.