Envestnet Asset Management Inc. Increases Stake in Coterra Energy Inc. $CTRA

Envestnet Asset Management Inc. raised its stake in Coterra Energy Inc. (NYSE:CTRA) by 8.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,007,639 shares of the company’s stock after purchasing an additional 448,289 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Coterra Energy were worth $142,081,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Belpointe Asset Management LLC raised its holdings in Coterra Energy by 4.6% during the 2nd quarter. Belpointe Asset Management LLC now owns 17,515 shares of the company’s stock valued at $445,000 after buying an additional 777 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of Coterra Energy by 7.5% in the second quarter. Maryland State Retirement & Pension System now owns 36,665 shares of the company’s stock valued at $931,000 after acquiring an additional 2,543 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Coterra Energy by 65.3% during the second quarter. Vontobel Holding Ltd. now owns 13,306 shares of the company’s stock valued at $338,000 after acquiring an additional 5,254 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Coterra Energy by 32.3% during the second quarter. Tectonic Advisors LLC now owns 19,620 shares of the company’s stock worth $498,000 after purchasing an additional 4,786 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Coterra Energy by 1.9% during the second quarter. US Bancorp DE now owns 1,910,495 shares of the company’s stock worth $48,488,000 after purchasing an additional 35,880 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTRA. BMO Capital Markets reduced their price target 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. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday. Wolfe Research upped their target price on Coterra Energy from $33.00 to $40.00 in a report on Tuesday. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Siebert Williams Shank lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, January 26th. Fourteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.40.

Coterra Energy Price Performance

CTRA opened at $30.70 on Friday. The company’s 50-day simple moving average is $26.64 and its two-hundred day simple moving average is $25.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The stock has a market capitalization of $23.37 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.73 and a beta of 0.38. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $30.94.

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.