Empowered Funds LLC Grows Position in Coterra Energy Inc. (NYSE:CTRA)

Empowered Funds LLC boosted its stake in Coterra Energy Inc. (NYSE:CTRA) by 75.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 557,922 shares of the company’s stock after purchasing an additional 239,193 shares during the quarter. Empowered Funds LLC’s holdings in Coterra Energy were worth $14,249,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. City State Bank purchased a new stake in Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc grew its holdings in 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% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Values First Advisors Inc. purchased a new stake in Coterra Energy in the third quarter valued at approximately $57,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Down 0.1 %

CTRA opened at $27.36 on Friday. The stock 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. The firm’s fifty day moving average price is $26.64 and its 200 day moving average price is $25.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95.

Insider Activity at Coterra Energy

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTRA. Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Citigroup lifted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler lifted their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Barclays lifted their price target on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Three equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.11.

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’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.