Payden & Rygel Acquires Shares of 212,000 Coterra Energy Inc. $CTRA

Payden & Rygel bought a new stake in Coterra Energy Inc. (NYSE:CTRA) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 212,000 shares of the company’s stock, valued at approximately $5,014,000.

Several other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in Coterra Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after buying an additional 398 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after buying an additional 418 shares in the last quarter. AAFMAA Wealth Management & Trust LLC raised its stake in shares of Coterra Energy by 1.0% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after acquiring an additional 429 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Coterra Energy by 1.5% in the 3rd quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock worth $729,000 after acquiring an additional 454 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Coterra Energy by 2.1% during the 3rd quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after acquiring an additional 462 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CTRA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. Siebert Williams Shank raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. UBS Group upped their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Piper Sandler decreased their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Finally, Susquehanna boosted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research note on Tuesday, February 3rd. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Price Performance

Shares of CTRA stock opened at $31.25 on Monday. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.78 and a beta of 0.38. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $32.67. 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 50-day moving average price of $27.51 and a 200 day moving average price of $25.62.

Coterra Energy 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.