BTC Capital Management Inc. Makes New $2.84 Million Investment in Coterra Energy Inc. $CTRA

BTC Capital Management Inc. acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 120,002 shares of the company’s stock, valued at approximately $2,837,000.

Other hedge funds also recently bought and sold shares of the company. Cadence Wealth Management LLC increased its stake in Coterra Energy by 98.5% during the third quarter. Cadence Wealth Management LLC now owns 28,010 shares of the company’s stock worth $662,000 after acquiring an additional 13,898 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Coterra Energy by 6.4% in the third quarter. Metis Global Partners LLC now owns 43,224 shares of the company’s stock valued at $1,022,000 after purchasing an additional 2,615 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Coterra Energy in the 3rd quarter valued at approximately $256,000. Public Sector Pension Investment Board grew its stake in shares of Coterra Energy by 4.8% in the third quarter. Public Sector Pension Investment Board now owns 164,601 shares of the company’s stock worth $3,893,000 after acquiring an additional 7,563 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Coterra Energy by 9.3% during the third quarter. Atria Investments Inc now owns 105,963 shares of the company’s stock worth $2,506,000 after acquiring an additional 8,987 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTRA shares. Piper Sandler cut their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. William Blair started coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 target price on the stock. Raymond James Financial raised their target price on shares of Coterra Energy from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday. Roth Mkm set a $28.00 price target on shares of Coterra Energy and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Finally, TD Cowen dropped their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Up 1.8%

CTRA stock opened at $31.35 on Friday. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. The company has a fifty day moving average price of $27.03 and a 200 day moving average price of $25.35. 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 12 month low of $22.33 and a 12 month high of $31.66.

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.