WBI Investments Inc. boosted its position in Coterra Energy Inc. (NYSE:CTRA – Free Report) by 2,251.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 230,362 shares of the company’s stock after acquiring an additional 220,567 shares during the quarter. Coterra Energy makes up approximately 1.3% of WBI Investments Inc.’s investment portfolio, making the stock its 15th largest holding. WBI Investments Inc.’s holdings in Coterra Energy were worth $6,231,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of CTRA. Meitav Investment House Ltd. bought a new stake in Coterra Energy in the 2nd quarter valued at $213,000. ICA Group Wealth Management LLC acquired a new stake in Coterra Energy during the fourth quarter worth about $25,000. SouthState Corp increased its stake in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after acquiring an additional 454 shares during the period. Achmea Investment Management B.V. acquired a new position in Coterra Energy in the 1st quarter valued at approximately $41,000. Finally, Missouri Trust & Investment Co bought a new stake in shares of Coterra Energy in the 2nd quarter worth approximately $41,000. Institutional investors own 90.54% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on CTRA. Stephens restated an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research note on Tuesday, January 23rd. Stifel Nicolaus reduced their price objective on shares of Coterra Energy from $37.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Truist Financial upped their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Friday, January 5th. Finally, Susquehanna raised Coterra Energy from a “neutral” rating to a “positive” rating and dropped their target price for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.07.
Coterra Energy Stock Down 0.1 %
Shares of NYSE:CTRA opened at $24.28 on Monday. Coterra Energy Inc. has a 12 month low of $22.25 and a 12 month high of $29.89. The firm has a market cap of $18.26 billion, a P/E ratio of 8.35, a P/E/G ratio of 0.20 and a beta of 0.19. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $25.13 and its two-hundred day moving average price is $26.70.
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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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