D.A. Davidson & CO. Acquires 113,863 Shares of Coterra Energy Inc. (NYSE:CTRA)

D.A. Davidson & CO. raised its position in Coterra Energy Inc. (NYSE:CTRA) by 441.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 139,630 shares of the company’s stock after buying an additional 113,863 shares during the period. D.A. Davidson & CO.’s holdings in Coterra Energy were worth $3,566,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CTRA. Blue Trust Inc. boosted its position in Coterra Energy by 118.5% in the 3rd quarter. Blue Trust Inc. now owns 7,200 shares of the company’s stock valued at $172,000 after buying an additional 3,905 shares during the last quarter. Raymond James & Associates boosted its position in Coterra Energy by 8.3% in the 3rd quarter. Raymond James & Associates now owns 1,286,545 shares of the company’s stock valued at $30,813,000 after buying an additional 98,882 shares during the last quarter. Waldron Private Wealth LLC boosted its position in Coterra Energy by 40.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 14,046 shares of the company’s stock valued at $336,000 after buying an additional 4,043 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in Coterra Energy in the 3rd quarter valued at $698,000. Finally, International Assets Investment Management LLC bought a new position in Coterra Energy in the 3rd quarter valued at $1,986,000. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of analyst reports. Mizuho increased their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays increased their price target on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Piper Sandler increased their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group increased their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.42.

Coterra Energy Price Performance

CTRA stock opened at $28.75 on Friday. The stock has a 50-day moving average price of $27.11 and a two-hundred day moving average price of $25.34. The stock has a market cap of $21.17 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.57 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Insiders Place Their Bets

In other Coterra Energy news, 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 transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.