Coterra Energy Inc. $CTRA Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,598,767 shares of the company’s stock after acquiring an additional 83,142 shares during the quarter. Rhumbline Advisers owned 0.21% of Coterra Energy worth $37,811,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Davis Selected Advisers acquired a new position in Coterra Energy during the 2nd quarter worth approximately $237,002,000. Vanguard Group Inc. boosted its stake in shares of Coterra Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock valued at $2,416,429,000 after buying an additional 2,872,288 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Coterra Energy by 34.0% during the third quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company’s stock worth $162,370,000 after acquiring an additional 1,741,125 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 worth $680,197,000 after acquiring an additional 1,495,553 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Coterra Energy in the second quarter worth $29,149,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Price Performance

Coterra Energy stock opened at $31.35 on Friday. The stock has a market capitalization of $23.87 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.78 and a beta of 0.38. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $31.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The firm’s 50-day moving average is $27.03 and its two-hundred day moving average is $25.35.

Analyst Ratings Changes

Several equities research analysts have commented on CTRA shares. Susquehanna boosted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research report on Tuesday, February 3rd. Raymond James Financial boosted their price objective on shares of Coterra Energy from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler decreased their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Mizuho raised their price objective on Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Finally, William Blair initiated coverage on Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 target price on the stock. Fifteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus 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.