NEOS Investment Management LLC Acquires 32,670 Shares of Coterra Energy Inc. $CTRA

NEOS Investment Management LLC increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 46.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,235 shares of the company’s stock after acquiring an additional 32,670 shares during the period. NEOS Investment Management LLC’s holdings in Coterra Energy were worth $2,442,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Coterra Energy by 43.2% in the second quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock worth $1,468,000 after purchasing an additional 17,373 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Coterra Energy by 20.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 102,933 shares of the company’s stock valued at $2,612,000 after buying an additional 17,303 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Coterra Energy in the 2nd quarter valued at $515,000. Securian Asset Management Inc. lifted its stake in Coterra Energy by 2.5% during the 2nd quarter. Securian Asset Management Inc. now owns 39,905 shares of the company’s stock valued at $1,013,000 after acquiring an additional 972 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Coterra Energy by 2.3% during the 2nd quarter. D.A. Davidson & CO. now owns 134,068 shares of the company’s stock worth $3,403,000 after acquiring an additional 2,999 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several analyst reports. Stephens increased their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Mizuho increased their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Johnson Rice dropped their price target on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.48.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $31.74 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $27.41 and a two-hundred day simple moving average of $25.55. Coterra Energy Inc. has a 1-year low of $22.33 and a 1-year high of $32.67. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.78 and a beta of 0.38.

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.