NEOS Investment Management LLC Acquires 32,670 Shares of Coterra Energy Inc. $CTRA

NEOS Investment Management LLC lifted its stake in Coterra Energy Inc. (NYSE:CTRA) by 46.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,235 shares of the company’s stock after acquiring an additional 32,670 shares during the period. NEOS Investment Management LLC’s holdings in Coterra Energy were worth $2,442,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after buying an additional 3,781,606 shares in the last quarter. State Street Corp lifted its holdings in shares of Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after buying an additional 386,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after acquiring an additional 1,495,553 shares during the period. Geode Capital Management LLC grew its stake in Coterra Energy by 4.8% during the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after acquiring an additional 953,824 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Coterra Energy by 1.1% during the second quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock valued at $344,536,000 after acquiring an additional 141,830 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TD Cowen lowered their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Susquehanna increased their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research report on Tuesday, February 3rd. Piper Sandler dropped their price objective on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 28th. UBS Group boosted 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, William Blair assumed coverage on Coterra Energy in a report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target on the stock. Fifteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Up 0.8%

CTRA opened at $31.74 on Friday. The business’s fifty day simple moving average is $27.41 and its 200 day simple moving average is $25.55. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $32.67. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock has a market cap of $24.16 billion, a PE ratio of 14.62, a P/E/G 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.