Hourglass Capital LLC Grows Stock Position in Coterra Energy Inc. (NYSE:CTRA)

Hourglass Capital LLC grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 183.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,350 shares of the company’s stock after buying an additional 30,000 shares during the period. Hourglass Capital LLC’s holdings in Coterra Energy were worth $1,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. Wellington Management Group LLP raised its holdings in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after purchasing an additional 305,626 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares during the period. Victory Capital Management Inc. lifted its holdings in Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Coterra Energy by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after purchasing an additional 284,106 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.2 %

NYSE CTRA opened at $27.55 on Friday. The firm has a market cap of $20.29 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95. The stock has a 50-day moving average of $26.87 and a 200-day moving average of $25.25. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CTRA shares. The Goldman Sachs Group increased their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays increased 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. Susquehanna boosted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Wells Fargo & Company increased their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, UBS Group boosted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.42.

Coterra Energy 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.