Concurrent Investment Advisors LLC Makes New $445,000 Investment in Coterra Energy Inc. (NYSE:CTRA)

Concurrent Investment Advisors LLC purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the 4th quarter, Holdings Channel.com reports. The fund purchased 17,414 shares of the company’s stock, valued at approximately $445,000.

Other institutional investors have also recently made changes to their positions in the company. City State Bank acquired a new position in shares of Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc increased its holdings in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in shares of Coterra Energy during the 4th quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Coterra Energy during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CTRA shares. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Susquehanna boosted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Jefferies Financial Group boosted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. Citigroup boosted their target price on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.42.

Coterra Energy Stock Performance

CTRA opened at $27.99 on Tuesday. The firm has a market cap of $20.61 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-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. The business’s fifty day moving average is $27.23 and its 200-day moving average is $25.43.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Insider Activity at Coterra Energy

In related news, 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 sale, the senior vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.

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.