Verity Asset Management Inc. Trims Stake in Coterra Energy Inc. (NYSE:CTRA)

Verity Asset Management Inc. decreased its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,266 shares of the company’s stock after selling 1,007 shares during the quarter. Verity Asset Management Inc.’s holdings in Coterra Energy were worth $1,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. City State Bank bought a new stake in Coterra Energy during the fourth quarter valued at about $26,000. AdvisorNet Financial Inc grew its position in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd acquired a new stake in Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Values First Advisors Inc. purchased a new position in Coterra Energy in the third quarter worth $57,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $28.03 on Tuesday. The company has a market capitalization of $20.65 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.56 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company’s fifty day moving average price is $26.56 and its 200 day moving average price is $25.13. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Insiders Place Their Bets

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays lifted their target price on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Raymond James upped their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.41.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.