Diamond Hill Capital Management Inc. Sells 92,443 Shares of Coterra Energy Inc. $CTRA

Diamond Hill Capital Management Inc. lessened its position in Coterra Energy Inc. (NYSE:CTRA) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,466,844 shares of the company’s stock after selling 92,443 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.32% of Coterra Energy worth $58,341,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CTRA. Davis Selected Advisers bought a new stake in Coterra Energy during the 2nd quarter valued at approximately $237,002,000. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock valued at $2,416,429,000 after acquiring an additional 2,872,288 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Coterra Energy by 34.0% in the third quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company’s stock worth $162,370,000 after acquiring an additional 1,741,125 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after acquiring an additional 1,495,553 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Coterra Energy during the 2nd quarter valued at $29,149,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 1.3%

NYSE CTRA opened at $30.70 on Friday. The stock’s 50 day simple moving average is $26.64 and its 200 day simple moving average is $25.10. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $30.94. The firm has a market cap of $23.37 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTRA shares. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Barclays lowered their price target on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. UBS Group upped their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Raymond James Financial lifted their price target on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Fourteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.40.

Coterra Energy Company Profile

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.