Kentucky Retirement Systems Cuts Stock Holdings in Coterra Energy Inc. (NYSE:CTRA)

Kentucky Retirement Systems decreased its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,802 shares of the company’s stock after selling 700 shares during the period. Kentucky Retirement Systems’ holdings in Coterra Energy were worth $1,297,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Coterra Energy by 118.5% in the 3rd quarter. Blue Trust Inc. now owns 7,200 shares of the company’s stock valued at $172,000 after buying an additional 3,905 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Coterra Energy in the 3rd quarter worth approximately $1,986,000. Hennion & Walsh Asset Management Inc. boosted its stake in Coterra Energy by 3.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 55,968 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,703 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Coterra Energy by 12.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,280 shares of the company’s stock worth $11,972,000 after purchasing an additional 55,486 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Coterra Energy by 19.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,640 shares of the company’s stock worth $1,093,000 after purchasing an additional 7,582 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Down 2.2 %

Shares of CTRA opened at $28.16 on Monday. The company’s 50-day simple moving average is $27.17 and its 200-day simple moving average is $25.40. The stock has a market capitalization of $20.74 billion, a PE ratio of 16.96, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTRA. Mizuho raised their price target 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. Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Citigroup upped their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Raymond James upped their target price on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

About Coterra Energy

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.