Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. lowered its stake in Coterra Energy Inc. (NYSE:CTRA) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 78,069 shares of the company’s stock after selling 368 shares during the quarter. Mengis Capital Management Inc.’s holdings in Coterra Energy were worth $1,994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the period. Geode Capital Management LLC grew its holdings in Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after acquiring an additional 128,397 shares during the period. Victory Capital Management Inc. grew its holdings in Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Coterra Energy by 5.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after acquiring an additional 284,106 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated 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 directly owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of recent analyst reports. Susquehanna upped their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Wells Fargo & Company upped their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays upped their target price on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Jefferies Financial Group upped their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group upped their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

Coterra Energy Stock Down 0.6 %

Shares of NYSE:CTRA opened at $27.99 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The stock’s fifty day simple moving average is $27.23 and its 200-day simple moving average is $25.43. The company has a market capitalization of $20.61 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, February 24th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. As a group, equities research analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

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.