PNC Financial Services Group Inc. Trims Holdings in Coterra Energy Inc. $CTRA

PNC Financial Services Group Inc. lowered its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% in the third quarter, Holdings Channel reports. The firm owned 313,285 shares of the company’s stock after selling 18,960 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Coterra Energy were worth $7,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CTRA. Advisors Asset Management Inc. lifted its position in Coterra Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after buying an additional 398 shares during the period. Profund Advisors LLC increased its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares during the last quarter. AAFMAA Wealth Management & Trust LLC lifted its holdings in shares of Coterra Energy by 1.0% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after acquiring an additional 429 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Coterra Energy by 1.5% during the 3rd quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock worth $729,000 after acquiring an additional 454 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Coterra Energy by 2.1% in the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after acquiring an additional 462 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTRA shares. JPMorgan Chase & Co. dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Wolfe Research increased their target price on Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Stephens boosted their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $33.48.

Coterra Energy Stock Up 0.8%

Shares of Coterra Energy stock opened at $31.74 on Friday. Coterra Energy Inc. has a twelve month low of $22.33 and a twelve month high of $32.67. The stock has a market cap of $24.16 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.78 and a beta of 0.38. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $27.41 and a 200 day moving average price of $25.55.

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.