Quent Capital LLC Trims Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Quent Capital LLC lessened its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 29.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,872 shares of the company’s stock after selling 1,631 shares during the quarter. Quent Capital LLC’s holdings in Coterra Energy were worth $99,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CTRA. Wellington Management Group LLP raised its position in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Geode Capital Management LLC raised its position in Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares during the last quarter. Victory Capital Management Inc. raised its position in Coterra Energy by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after purchasing an additional 284,106 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s 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 sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTRA. Barclays upped their price target on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Stephens upped their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research 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 stock. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.32.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $27.55 on Thursday. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 0.56 and a beta of 0.26. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The company’s 50-day moving average price is $26.77 and its 200 day moving average price is $25.23. 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 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.