Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,753,907 shares of the company’s stock after buying an additional 103,048 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Coterra Energy were worth $44,795,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CTRA. Wellington Management Group LLP grew its position in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Holocene Advisors LP lifted its stake in Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares during the period. Weiss Asset Management LP purchased a new stake in Coterra Energy in the third quarter worth $28,380,000. Erste Asset Management GmbH bought a new stake in Coterra Energy in the third quarter valued at $21,555,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Coterra Energy by 395.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock valued at $21,551,000 after purchasing an additional 718,182 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction 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 transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. This trade represents 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.

Analysts Set New Price Targets

CTRA has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler raised their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Raymond James upped their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Susquehanna raised their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, Stephens raised their price objective 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. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Coterra Energy Stock Performance

Shares of CTRA opened at $28.44 on Tuesday. The firm has a market capitalization of $20.95 billion, a P/E ratio of 17.13, a PEG ratio of 0.56 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The business has a fifty day moving average of $26.64 and a 200 day moving average of $25.17.

Coterra Energy 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.