Mirae Asset Global Investments Co. Ltd. Acquires 100,544 Shares of Coterra Energy Inc. (NYSE:CTRA)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.9% in the fourth quarter, HoldingsChannel reports. The fund owned 604,824 shares of the company’s stock after purchasing an additional 100,544 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coterra Energy were worth $14,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several research firms recently issued reports on CTRA. Raymond James increased their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Morgan Stanley increased their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Mizuho boosted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Scotiabank decreased their price target on shares of 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 equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

Insider Buying and Selling at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Adam M. Vela sold 16,435 shares of the firm’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 value 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 represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.36 on Friday. The firm has a market capitalization of $20.15 billion, a PE ratio of 16.48, a PEG ratio of 0.56 and a beta of 0.26. The stock’s fifty day moving average is $26.62 and its 200 day moving average is $25.16. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

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.