Coterra Energy Inc. $CTRA Stock Holdings Decreased by Cibc World Market Inc.

Cibc World Market Inc. lessened its position in Coterra Energy Inc. (NYSE:CTRA) by 71.2% in the 3rd quarter, Holdings Channel reports. The fund owned 92,908 shares of the company’s stock after selling 229,725 shares during the period. Cibc World Market Inc.’s holdings in Coterra Energy were worth $2,197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Coterra Energy by 5.5% during the 3rd quarter. Rhumbline Advisers now owns 1,598,767 shares of the company’s stock valued at $37,811,000 after purchasing an additional 83,142 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Coterra Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after purchasing an additional 398 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Coterra Energy during the third quarter worth approximately $350,000. Baader Bank Aktiengesellschaft grew its position in Coterra Energy by 584.6% during the third quarter. Baader Bank Aktiengesellschaft now owns 174,217 shares of the company’s stock valued at $4,120,000 after purchasing an additional 148,770 shares in the last quarter. Finally, Profund Advisors LLC grew its position in Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after purchasing an additional 418 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BMO Capital Markets decreased their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Johnson Rice reduced their price objective on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. William Blair initiated coverage on Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price on the stock. UBS Group upped their target price on Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.48.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $31.35 on Tuesday. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $31.66. The firm has a fifty day simple moving average of $27.13 and a 200-day simple moving average of $25.41. 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 has a market capitalization of $23.87 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.78 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.