Empirical Finance LLC Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

Empirical Finance LLC trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 42.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,802 shares of the company’s stock after selling 17,457 shares during the quarter. Empirical Finance LLC’s holdings in Coterra Energy were worth $608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Coterra Energy by 1.4% in the third 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 during the period. Czech National Bank boosted its holdings in shares of Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after buying an additional 9,115 shares in the last quarter. Bourgeon Capital Management LLC grew its position in shares of Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after buying an additional 122,487 shares during the period. Hartford Funds Management Co LLC purchased a new stake in shares of Coterra Energy in the 3rd quarter worth about $575,000. Finally, M.E. Allison & CO. Inc. bought a new position in shares of Coterra Energy in the 4th quarter worth about $217,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred 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 directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the 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 transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. The trade was 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 Trading Up 3.9 %

Shares of CTRA stock opened at $28.44 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The stock has a market capitalization of $20.95 billion, a P/E ratio of 17.13, a P/E/G ratio of 0.56 and a beta of 0.26. The firm’s 50 day moving average is $26.64 and its 200 day moving average is $25.17.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Mizuho raised their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Truist Financial boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Jefferies Financial Group raised their price target on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.