Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Get Rating) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,508,490 shares of the company’s stock after selling 7,383 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Coterra Energy were worth $117,762,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTRA. Inspire Investing LLC acquired a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $327,000. Sawtooth Solutions LLC grew its holdings in shares of Coterra Energy by 52.4% in the 3rd quarter. Sawtooth Solutions LLC now owns 29,397 shares of the company’s stock worth $768,000 after acquiring an additional 10,104 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Coterra Energy by 912.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 111,218 shares of the company’s stock worth $2,903,000 after acquiring an additional 100,235 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Coterra Energy by 17.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 105,921 shares of the company’s stock worth $2,731,000 after acquiring an additional 15,576 shares during the period. Finally, Simmons Bank grew its holdings in shares of Coterra Energy by 16.5% in the 2nd quarter. Simmons Bank now owns 102,361 shares of the company’s stock worth $2,640,000 after acquiring an additional 14,501 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTRA. Citigroup cut Coterra Energy from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $27.00 to $23.00 in a report on Wednesday, December 7th. Raymond James reduced their target price on Coterra Energy from $36.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, January 26th. Wolfe Research raised Coterra Energy from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 7th. Wells Fargo & Company assumed coverage on Coterra Energy in a research note on Tuesday, January 24th. They set an “equal weight” rating and a $28.00 price target on the stock. Finally, Bank of America raised Coterra Energy from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $30.00 to $29.00 in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.60.

Coterra Energy Stock Up 1.8 %

Shares of CTRA stock traded up $0.43 during mid-day trading on Thursday, reaching $24.97. 2,258,173 shares of the company were exchanged, compared to its average volume of 7,484,480. Coterra Energy Inc. has a fifty-two week low of $21.22 and a fifty-two week high of $36.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.62 and a current ratio of 1.66. The company has a market capitalization of $19.69 billion, a P/E ratio of 4.96, a P/E/G ratio of 0.16 and a beta of 0.27. The business’s 50 day simple moving average is $25.28 and its 200 day simple moving average is $27.70.

Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.05. Coterra Energy had a net margin of 44.15% and a return on equity of 29.82%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.43 billion. Research analysts predict that Coterra Energy Inc. will post 4.83 earnings per share for the current year.

Insider Transactions at Coterra Energy

In other Coterra Energy news, Director Hans Helmerich sold 5,000 shares of Coterra Energy stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $27.64, for a total value of $138,200.00. Following the completion of the transaction, the director now owns 225,755 shares of the company’s stock, valued at $6,239,868.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Coterra Energy Profile

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.