Coterra Energy Inc. $CTRA Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,285 shares of the company’s stock after selling 18,960 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Coterra Energy were worth $7,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTRA. HighTower Advisors LLC increased its holdings in Coterra Energy by 86.1% during the 3rd quarter. HighTower Advisors LLC now owns 202,191 shares of the company’s stock worth $4,782,000 after purchasing an additional 93,517 shares during the period. Aberdeen Group plc grew its position in shares of Coterra Energy by 5.9% during the third quarter. Aberdeen Group plc now owns 407,111 shares of the company’s stock worth $9,624,000 after buying an additional 22,829 shares in the last quarter. BTC Capital Management Inc. purchased a new stake in shares of Coterra Energy during the third quarter worth approximately $2,837,000. Cadence Wealth Management LLC raised its holdings in Coterra Energy by 98.5% in the third quarter. Cadence Wealth Management LLC now owns 28,010 shares of the company’s stock valued at $662,000 after acquiring an additional 13,898 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in Coterra Energy by 6.4% in the third quarter. Metis Global Partners LLC now owns 43,224 shares of the company’s stock valued at $1,022,000 after acquiring an additional 2,615 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 0.8%

Coterra Energy stock opened at $31.74 on Friday. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $32.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The company has a market capitalization of $24.16 billion, a P/E ratio of 14.62, a PEG ratio of 0.78 and a beta of 0.38. The stock has a 50-day simple moving average of $27.41 and a 200-day simple moving average of $25.55.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTRA. BMO Capital Markets dropped their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research report on Monday, December 15th. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Piper Sandler decreased their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Finally, TD Cowen cut their target price on Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Fifteen 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. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $33.48.

About Coterra Energy

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.