Illinois Municipal Retirement Fund Trims Holdings in Coterra Energy Inc. $CTRA

Illinois Municipal Retirement Fund lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 19.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 293,569 shares of the company’s stock after selling 68,900 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coterra Energy were worth $6,943,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new stake in Coterra Energy in the second quarter valued at approximately $26,000. Winnow Wealth LLC acquired a new stake in shares of Coterra Energy in the third quarter valued at $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Coterra Energy in the third quarter valued at $29,000. Tobam raised its holdings in shares of Coterra Energy by 50.9% in the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after buying an additional 615 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in Coterra Energy during the 2nd quarter worth about $50,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research reports. Scotiabank reaffirmed a “sector perform” rating and issued a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, February 3rd. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. TD Cowen dropped their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group upped their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Barclays reduced their target price on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Performance

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

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.