Concurrent Investment Advisors LLC Takes $445,000 Position in Coterra Energy Inc. (NYSE:CTRA)

Concurrent Investment Advisors LLC bought a new stake in Coterra Energy Inc. (NYSE:CTRA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,414 shares of the company’s stock, valued at approximately $445,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. City State Bank acquired a new stake in Coterra Energy in the fourth quarter worth about $26,000. AdvisorNet Financial Inc increased its position in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC increased its position in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd acquired a new stake in Coterra Energy in the fourth quarter worth about $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in Coterra Energy in the third quarter worth about $67,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of research reports. Morgan Stanley lifted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Citigroup lifted their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Mizuho raised their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Piper Sandler raised their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Stephens raised their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.42.

Coterra Energy Trading Down 0.6 %

NYSE:CTRA opened at $27.99 on Tuesday. 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 $20.61 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The business’s 50-day simple moving average is $27.23 and its 200-day simple moving average is $25.43.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, February 24th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

About Coterra Energy

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.