Core Alternative Capital Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Core Alternative Capital lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 32.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,950 shares of the company’s stock after purchasing an additional 27,692 shares during the period. Core Alternative Capital’s holdings in Coterra Energy were worth $2,859,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Essex Financial Services Inc. bought a new stake in shares of Coterra Energy in the 4th quarter valued at about $211,000. Savant Capital LLC increased its holdings in Coterra Energy by 51.5% during the fourth quarter. Savant Capital LLC now owns 20,037 shares of the company’s stock valued at $512,000 after buying an additional 6,807 shares during the period. Empowered Funds LLC raised its stake in Coterra Energy by 75.0% in the fourth quarter. Empowered Funds LLC now owns 557,922 shares of the company’s stock worth $14,249,000 after buying an additional 239,193 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Coterra Energy by 3.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 26,859 shares of the company’s stock worth $686,000 after buying an additional 943 shares during the period. Finally, Apollon Wealth Management LLC boosted its position in Coterra Energy by 15.2% during the 4th quarter. Apollon Wealth Management LLC now owns 20,984 shares of the company’s stock valued at $536,000 after acquiring an additional 2,761 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler raised their price objective on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group raised their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Truist Financial boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Stephens lifted their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $28.44 on Tuesday. The firm has a market cap of $20.95 billion, a PE ratio of 17.13, a P/E/G ratio of 0.56 and a beta of 0.26. The business has a 50-day moving average price of $26.64 and a 200 day moving average price of $25.17. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

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.