BTC Capital Management Inc. Invests $2.84 Million in Coterra Energy Inc. $CTRA

BTC Capital Management Inc. acquired a new stake in shares of Coterra Energy Inc. (NYSE:CTRA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 120,002 shares of the company’s stock, valued at approximately $2,837,000.

Several other institutional investors also recently bought and sold shares of CTRA. Bogart Wealth LLC purchased a new stake in Coterra Energy during the second quarter worth $26,000. Winnow Wealth LLC bought a new position in shares of Coterra Energy in the 3rd quarter worth $29,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Coterra Energy during the 3rd quarter worth $29,000. Tobam boosted its position in Coterra Energy by 50.9% during the second quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after purchasing an additional 615 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in Coterra Energy during the second quarter valued at about $50,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen decreased their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday. Stephens upped their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Piper Sandler decreased their price target on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Raymond James Financial boosted their price objective on shares of Coterra Energy from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group upped their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $31.35 on Friday. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $31.66. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock has a market cap of $23.87 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. The business has a 50-day simple moving average of $27.03 and a 200-day simple moving average of $25.35.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.