Econ Financial Services Corp Acquires New Shares in Coterra Energy Inc. (NYSE:CTRA)

Econ Financial Services Corp bought a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 71,219 shares of the company’s stock, valued at approximately $1,819,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the period. Czech National Bank boosted its stake in Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after buying an additional 9,115 shares during the period. Bourgeon Capital Management LLC increased its position in shares of Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after acquiring an additional 122,487 shares during the last quarter. Hartford Funds Management Co LLC acquired a new stake in shares of Coterra Energy during the third quarter valued at about $575,000. Finally, M.E. Allison & CO. Inc. purchased a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $217,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $28.04 on Wednesday. The company has a market capitalization of $20.66 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $26.59 and a 200 day moving average price of $25.14.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTRA. Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Susquehanna raised their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Jefferies Financial Group boosted their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday. Morgan Stanley raised their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Truist Financial lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $33.11.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.