CIBC Asset Management Inc Has $3.30 Million Stake in Coterra Energy Inc. (NYSE:CTRA)

CIBC Asset Management Inc grew its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 129,277 shares of the company’s stock after acquiring an additional 2,716 shares during the quarter. CIBC Asset Management Inc’s holdings in Coterra Energy were worth $3,302,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTRA. Blue Trust Inc. grew its position in shares of Coterra Energy by 118.5% in the third quarter. Blue Trust Inc. now owns 7,200 shares of the company’s stock valued at $172,000 after purchasing an additional 3,905 shares during the last quarter. Raymond James & Associates grew its position in shares of Coterra Energy by 8.3% in the third quarter. Raymond James & Associates now owns 1,286,545 shares of the company’s stock valued at $30,813,000 after purchasing an additional 98,882 shares during the last quarter. Waldron Private Wealth LLC grew its position in shares of Coterra Energy by 40.4% in the third quarter. Waldron Private Wealth LLC now owns 14,046 shares of the company’s stock valued at $336,000 after purchasing an additional 4,043 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Coterra Energy in the third quarter valued at about $698,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Coterra Energy in the third quarter valued at about $1,986,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

NYSE:CTRA opened at $28.75 on Friday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a 50 day moving average of $27.11 and a 200-day moving average of $25.34. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $21.17 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.57 and a beta of 0.26.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTRA. The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Citigroup increased their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Mizuho increased their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Barclays increased their target price on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley increased their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned 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 a consensus price target of $33.42.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

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.