Candriam S.C.A. Acquires 66,676 Shares of Coterra Energy Inc. $CTRA

Candriam S.C.A. grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 195.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,782 shares of the company’s stock after acquiring an additional 66,676 shares during the quarter. Candriam S.C.A.’s holdings in Coterra Energy were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in shares of Coterra Energy by 67.0% in the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after buying an additional 57,461 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in shares of Coterra Energy by 60.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after purchasing an additional 103,381 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Coterra Energy during the 3rd quarter worth approximately $1,086,000. State of Michigan Retirement System increased its position in shares of Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock valued at $6,204,000 after purchasing an additional 13,500 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Coterra Energy by 36.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after purchasing an additional 220,688 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Trading Down 2.7%

CTRA stock opened at $30.79 on Friday. The business has a fifty day moving average price of $26.95 and a 200 day moving average price of $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. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $31.66. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.76 and a beta of 0.38.

Analyst Ratings Changes

A number of research firms have weighed in on CTRA. JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. BMO Capital Markets lowered their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research note on Monday, December 15th. UBS Group raised their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Stephens upped their price objective on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus 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.