Envestnet Asset Management Inc. Acquires 448,289 Shares of Coterra Energy Inc. $CTRA

Envestnet Asset Management Inc. raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 8.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,007,639 shares of the company’s stock after purchasing an additional 448,289 shares during the period. Envestnet Asset Management Inc. owned approximately 0.79% of Coterra Energy worth $142,081,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CTRA. Bogart Wealth LLC bought a new position in Coterra Energy during the 2nd quarter worth $26,000. Winnow Wealth LLC acquired a new stake in shares of Coterra Energy during the 3rd quarter worth $29,000. Atlantic Union Bankshares Corp bought a new position in shares of Coterra Energy in the third quarter worth $29,000. Tobam raised its stake in Coterra Energy by 50.9% in the second quarter. Tobam now owns 1,823 shares of the company’s stock valued at $46,000 after purchasing an additional 615 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in Coterra Energy during the second quarter worth about $50,000. 87.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 12th. William Blair began coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price objective for the company. Wolfe Research upped their target price on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday. Siebert Williams Shank raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group lowered their price target on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Fourteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $33.40.

Coterra Energy Trading Up 1.3%

CTRA stock opened at $30.70 on Friday. The company has a market capitalization of $23.37 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $30.94. The company’s 50 day moving average price is $26.64 and its two-hundred day moving average price is $25.09.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.