Tyche Wealth Partners LLC Acquires Shares of 10,431 Coterra Energy Inc. (NYSE:CTRA)

Tyche Wealth Partners LLC acquired a new stake in Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,431 shares of the company’s stock, valued at approximately $266,000.

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

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $775,460.88. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Price Performance

Coterra Energy stock opened at $27.36 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $20.15 billion, a PE ratio of 16.48, a P/E/G ratio of 0.56 and a beta of 0.26. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The stock has a 50-day moving average price of $26.62 and a two-hundred day moving average price of $25.16.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stephens increased 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. Morgan Stanley increased their target price on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Raymond James raised their price objective on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. UBS Group raised their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank reduced their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

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.