Mediolanum International Funds Ltd Purchases 47,362 Shares of Coterra Energy Inc. (NYSE:CTRA)

Mediolanum International Funds Ltd grew its position in Coterra Energy Inc. (NYSE:CTRA) by 577.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 55,568 shares of the company’s stock after acquiring an additional 47,362 shares during the period. Mediolanum International Funds Ltd’s holdings in Coterra Energy were worth $1,415,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its stake in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after purchasing an additional 2,954,675 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Coterra Energy in the third quarter worth about $28,380,000. Erste Asset Management GmbH bought a new position in shares of Coterra Energy in the third quarter worth about $21,555,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Coterra Energy by 395.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock worth $21,551,000 after acquiring an additional 718,182 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent research reports. Piper Sandler increased their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group increased their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Raymond James increased their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Truist Financial increased their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.41.

Insiders Place Their Bets

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

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $27.69 on Monday. The firm has a market capitalization of $20.39 billion, a P/E ratio of 16.68, a PEG ratio of 0.58 and a beta of 0.27. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $26.54 and a 200 day moving average price of $25.13. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

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.