ProShare Advisors LLC Has $5.32 Million Holdings in Coterra Energy Inc. $CTRA

ProShare Advisors LLC raised its holdings in Coterra Energy Inc. (NYSE:CTRA) by 32.4% during the third quarter, HoldingsChannel.com reports. The fund owned 224,741 shares of the company’s stock after purchasing an additional 55,037 shares during the period. ProShare Advisors LLC’s holdings in Coterra Energy were worth $5,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC increased its position in Coterra Energy by 73.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,042 shares of the company’s stock worth $331,000 after purchasing an additional 5,517 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Coterra Energy by 236.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 413,403 shares of the company’s stock worth $10,372,000 after buying an additional 290,349 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Coterra Energy by 3.1% during the second quarter. Yousif Capital Management LLC now owns 93,981 shares of the company’s stock worth $2,385,000 after buying an additional 2,806 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Coterra Energy by 5.4% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 26,261 shares of the company’s stock valued at $667,000 after acquiring an additional 1,336 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Coterra Energy by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 271,253 shares of the company’s stock valued at $6,884,000 after acquiring an additional 8,493 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the subject of several research reports. BMO Capital Markets dropped their target price on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. TD Cowen cut their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday. Scotiabank reissued a “sector perform” rating and set a $31.00 target price on shares of Coterra Energy in a report on Tuesday, February 3rd. William Blair started coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target for the company. Finally, Johnson Rice cut their price target on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Fifteen 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Up 1.8%

Shares of NYSE CTRA opened at $31.35 on Friday. The company’s 50 day moving average price is $27.03 and its 200-day moving average price is $25.35. 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 52-week low of $22.33 and a 52-week high of $31.66. The company has a market capitalization of $23.87 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.76 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.