Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 613,572 shares of the company’s stock after purchasing an additional 86,452 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Coterra Energy worth $16,597,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Canada Pension Plan Investment Board grew its stake in shares of Coterra Energy by 126.3% during the third quarter. Canada Pension Plan Investment Board now owns 866,831 shares of the company’s stock valued at $23,448,000 after purchasing an additional 483,800 shares during the last quarter. BCGM Wealth Management LLC boosted its stake in Coterra Energy by 4.9% in the third quarter. BCGM Wealth Management LLC now owns 90,195 shares of the company’s stock valued at $2,440,000 after acquiring an additional 4,227 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Coterra Energy in the third quarter valued at approximately $951,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Coterra Energy in the third quarter valued at approximately $49,000. Finally, HighTower Advisors LLC boosted its stake in Coterra Energy by 58.7% in the third quarter. HighTower Advisors LLC now owns 195,281 shares of the company’s stock valued at $5,274,000 after acquiring an additional 72,241 shares during the last quarter. 90.54% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Citigroup raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $28.00 to $30.00 in a research note on Monday, December 11th. Truist Financial raised their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. UBS Group upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Thursday, December 14th. Stifel Nicolaus lowered their price target on shares of Coterra Energy from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Finally, Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Friday, January 5th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.07.
Coterra Energy Stock Up 1.3 %
Shares of CTRA opened at $24.62 on Tuesday. Coterra Energy Inc. has a 52 week low of $22.25 and a 52 week high of $29.89. The firm has a market cap of $18.52 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 0.20 and a beta of 0.19. The firm’s 50-day simple moving average is $25.13 and its 200 day simple moving average is $26.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.04.
Coterra Energy Company Profile
Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration and production of oil, natural gas, and natural gas liquids in the United States. The company primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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