Citigroup Inc. Decreases Stake in Coterra Energy Inc. $CTRA

Citigroup Inc. lessened its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,988,037 shares of the company’s stock after selling 249,983 shares during the quarter. Citigroup Inc.’s holdings in Coterra Energy were worth $70,667,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Winnow Wealth LLC acquired a new position in Coterra Energy during the third quarter worth about $29,000. Atlantic Union Bankshares Corp purchased a new position in Coterra Energy in the 3rd quarter worth approximately $29,000. Tobam boosted its holdings in shares of Coterra Energy by 50.9% during the 2nd quarter. Tobam now owns 1,823 shares of the company’s stock worth $46,000 after purchasing an additional 615 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Coterra Energy in the second quarter valued at approximately $50,000. Finally, Bogart Wealth LLC grew its position in shares of Coterra Energy by 97.8% in the third quarter. Bogart Wealth LLC now owns 2,022 shares of the company’s stock valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $31.25 on Monday. The firm has a 50 day moving average of $27.51 and a two-hundred day moving average of $25.62. The stock has a market capitalization of $23.79 billion, a PE ratio of 14.40, a P/E/G ratio of 0.78 and a beta of 0.38. 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 52 week low of $22.33 and a 52 week high of $32.67.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Siebert Williams Shank boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Roth Mkm set a $28.00 price objective on shares of Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets decreased their price objective on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a report on Monday, December 15th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock 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.