Beaumont Asset Management L.L.C. Takes $563,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Beaumont Asset Management L.L.C. acquired a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,060 shares of the company’s stock, valued at approximately $563,000.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Coterra Energy by 87.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 139,488 shares of the company’s stock valued at $3,563,000 after acquiring an additional 65,107 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Coterra Energy by 6.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,753,907 shares of the company’s stock worth $44,795,000 after acquiring an additional 103,048 shares during the period. RNC Capital Management LLC lifted its position in shares of Coterra Energy by 7.6% during the 4th quarter. RNC Capital Management LLC now owns 54,885 shares of the company’s stock worth $1,402,000 after purchasing an additional 3,877 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Coterra Energy by 7.0% during the fourth quarter. Bleakley Financial Group LLC now owns 17,423 shares of the company’s stock worth $445,000 after buying an additional 1,142 shares during the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in Coterra Energy in the 4th quarter valued at $266,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Trading Down 0.1 %

NYSE:CTRA opened at $27.36 on Friday. The business’s 50-day simple moving average is $26.63 and its 200-day simple moving average is $25.18. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock has a market capitalization of $20.15 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group raised their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Piper Sandler increased their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley lifted their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.