Wealthfront Advisers LLC Reduces Stock Position in Coterra Energy Inc. $CTRA

Wealthfront Advisers LLC trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 22.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,997 shares of the company’s stock after selling 48,215 shares during the period. Wealthfront Advisers LLC’s holdings in Coterra Energy were worth $3,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Concurrent Investment Advisors LLC boosted its holdings in Coterra Energy by 73.3% in the second quarter. Concurrent Investment Advisors LLC now owns 13,042 shares of the company’s stock valued at $331,000 after purchasing an additional 5,517 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Coterra Energy by 236.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 413,403 shares of the company’s stock worth $10,372,000 after buying an additional 290,349 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Coterra Energy by 3.1% in the 2nd quarter. Yousif Capital Management LLC now owns 93,981 shares of the company’s stock valued at $2,385,000 after buying an additional 2,806 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Coterra Energy by 5.4% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 26,261 shares of the company’s stock valued at $667,000 after buying an additional 1,336 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Coterra Energy by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 271,253 shares of the company’s stock worth $6,884,000 after acquiring an additional 8,493 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTRA. Susquehanna raised their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. UBS Group raised their price target on Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Raymond James Financial boosted their price objective on Coterra Energy from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday. Scotiabank restated a “sector perform” rating and set a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, February 3rd. Finally, Roth Mkm set a $28.00 price target on shares of Coterra Energy and gave the company a “neutral” rating in a research report 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.48.

Coterra Energy Trading Up 1.8%

NYSE:CTRA opened at $31.35 on Friday. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $31.66. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $27.03 and its 200-day simple moving average is $25.35. The firm has a market cap of $23.87 billion, a P/E ratio of 14.44, a PEG 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.