ING Groep NV Cuts Stake in Coterra Energy Inc. (NYSE:CTRA)

ING Groep NV lowered its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 61.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,734 shares of the company’s stock after selling 149,790 shares during the period. ING Groep NV’s holdings in Coterra Energy were worth $2,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Coterra Energy by 118.5% in the 3rd quarter. Blue Trust Inc. now owns 7,200 shares of the company’s stock worth $172,000 after purchasing an additional 3,905 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Coterra Energy in the third quarter worth about $1,986,000. Hennion & Walsh Asset Management Inc. boosted its stake in Coterra Energy by 3.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 55,968 shares of the company’s stock valued at $1,340,000 after buying an additional 1,703 shares during the last quarter. Values First Advisors Inc. purchased a new position in Coterra Energy during the 3rd quarter valued at approximately $57,000. Finally, Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 55,486 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 2.2 %

NYSE CTRA opened at $28.16 on Friday. Coterra Energy Inc. has a one year low of $22.30 and a one 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. The company has a market capitalization of $20.74 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company’s 50-day simple moving average is $27.17 and its two-hundred day simple moving average is $25.39.

Wall Street Analyst Weigh In

CTRA has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Stephens upped their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Mizuho lifted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Raymond James upped their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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 in the company, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

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.