RNC Capital Management LLC Buys 3,877 Shares of Coterra Energy Inc. (NYSE:CTRA)

RNC Capital Management LLC grew its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 7.6% during the 4th quarter, HoldingsChannel reports. The fund owned 54,885 shares of the company’s stock after acquiring an additional 3,877 shares during the quarter. RNC Capital Management LLC’s holdings in Coterra Energy were worth $1,402,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CTRA. Wellington Management Group LLP increased its stake 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 worth $1,705,480,000 after buying an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares during the period. Geode Capital Management LLC increased its stake in shares of Coterra Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after buying an additional 128,397 shares during the period. Victory Capital Management Inc. increased its stake in shares of Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after buying an additional 195,966 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in shares of Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after buying an additional 284,106 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % 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 research analysts have issued reports on CTRA shares. UBS Group boosted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Stephens boosted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Raymond James boosted their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Scotiabank reduced their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $27.36 on Friday. The stock has a market cap of $20.15 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 0.56 and a beta of 0.26. The firm’s 50-day moving average is $26.62 and its 200 day moving average is $25.16. 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 current ratio of 1.61 and a quick ratio of 1.56.

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.