Coterra Energy Inc. $CTRA is Sound Shore Management Inc CT’s 3rd Largest Position

Sound Shore Management Inc CT reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,241,760 shares of the company’s stock after selling 146,605 shares during the quarter. Coterra Energy accounts for approximately 3.3% of Sound Shore Management Inc CT’s investment portfolio, making the stock its 3rd largest holding. Sound Shore Management Inc CT owned approximately 0.56% of Coterra Energy worth $100,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRA. Advisors Asset Management Inc. raised its holdings in shares of Coterra Energy by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after purchasing an additional 398 shares in the last quarter. Profund Advisors LLC raised its stake in Coterra Energy by 1.4% in the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after buying an additional 418 shares in the last quarter. AAFMAA Wealth Management & Trust LLC lifted its holdings in Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after buying an additional 429 shares during the period. Trust Co. of Vermont lifted its holdings in Coterra Energy by 1.5% during the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock worth $729,000 after buying an additional 454 shares during the period. Finally, GAMMA Investing LLC boosted its position in Coterra Energy by 2.1% during the 3rd quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock valued at $538,000 after acquiring an additional 462 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Up 3.5%

CTRA stock opened at $31.62 on Thursday. The stock has a market capitalization of $24.07 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $31.66. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $26.89 and a 200 day moving average of $25.26.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CTRA shares. Barclays decreased their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. JPMorgan Chase & Co. decreased their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Scotiabank restated a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Finally, TD Cowen lowered their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday. Fifteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.48.

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.