DAVENPORT & Co LLC Has $17.18 Million Position in Coterra Energy Inc. (NYSE:CTRA)

DAVENPORT & Co LLC lifted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 53.6% during the 4th quarter, HoldingsChannel reports. The firm owned 672,590 shares of the company’s stock after acquiring an additional 234,762 shares during the period. DAVENPORT & Co LLC’s holdings in Coterra Energy were worth $17,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CTRA. City State Bank bought a new position in Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc increased its position in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC raised its stake in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares during the last quarter. R Squared Ltd bought a new position in Coterra Energy during the fourth quarter worth $32,000. Finally, Values First Advisors Inc. acquired a new position in Coterra Energy in the third quarter valued at $57,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Down 2.5 %

CTRA opened at $27.69 on Monday. The business’s fifty day simple moving average is $26.54 and its 200 day simple moving average is $25.13. 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 market cap of $20.39 billion, a PE ratio of 16.68, a P/E/G ratio of 0.58 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts have weighed in on CTRA shares. Stephens increased their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho raised their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Raymond James boosted their price target on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Barclays raised their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $33.41.

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.