Candriam S.C.A. Buys 66,676 Shares of Coterra Energy Inc. $CTRA

Candriam S.C.A. increased its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 195.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,782 shares of the company’s stock after purchasing an additional 66,676 shares during the quarter. Candriam S.C.A.’s holdings in Coterra Energy were worth $2,383,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aberdeen Group plc lifted its holdings in Coterra Energy by 13.0% during the 2nd quarter. Aberdeen Group plc now owns 384,282 shares of the company’s stock worth $9,753,000 after buying an additional 44,252 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Coterra Energy by 73.3% during the second quarter. Concurrent Investment Advisors LLC now owns 13,042 shares of the company’s stock worth $331,000 after acquiring an additional 5,517 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Coterra Energy by 5.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 102,344 shares of the company’s stock valued at $2,599,000 after acquiring an additional 4,945 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Coterra Energy by 236.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 413,403 shares of the company’s stock valued at $10,372,000 after acquiring an additional 290,349 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in Coterra Energy by 3.1% in the second quarter. Yousif Capital Management LLC now owns 93,981 shares of the company’s stock valued at $2,385,000 after acquiring an additional 2,806 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

CTRA has been the topic of a number of research reports. Piper Sandler cut their target price on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Johnson Rice lowered their target price on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Finally, Stephens increased their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.48.

Coterra Energy Price Performance

Shares of CTRA stock opened at $30.79 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $31.66. The firm has a fifty day moving average of $26.95 and a 200-day moving average of $25.29. The firm has a market capitalization of $23.44 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38.

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.