Ieq Capital LLC Raises Position in Coterra Energy Inc. (NYSE:CTRA)

Ieq Capital LLC increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 255,118 shares of the company’s stock after buying an additional 23,389 shares during the quarter. Ieq Capital LLC’s holdings in Coterra Energy were worth $6,516,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. City State Bank acquired a new stake in Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its stake in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC grew its holdings in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd purchased a new stake in Coterra Energy during the 4th quarter worth $32,000. Finally, Values First Advisors Inc. acquired a new position in Coterra Energy in the 3rd quarter worth $57,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler raised their target price on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial raised their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Susquehanna lifted their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Barclays increased their target price on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, UBS Group lifted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $33.42.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $28.75 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $27.11 and a two-hundred day moving average of $25.34. The company has a market cap of $21.17 billion, a P/E ratio of 17.32, a PEG ratio of 0.57 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.

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.