Sumitomo Mitsui DS Asset Management Company Ltd Has $3.56 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 87.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,488 shares of the company’s stock after acquiring an additional 65,107 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coterra Energy were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. CENTRAL TRUST Co raised its position in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares during the period. Arkadios Wealth Advisors grew its stake in shares of Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after acquiring an additional 413 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after purchasing an additional 420 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Coterra Energy by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after purchasing an additional 474 shares in the last quarter. Finally, Sky Investment Group LLC boosted its holdings in Coterra Energy by 3.7% during the fourth quarter. Sky Investment Group LLC now owns 13,899 shares of the company’s stock worth $355,000 after purchasing an additional 492 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTRA has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Stephens lifted their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group boosted their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Finally, Truist Financial increased their target price 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. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the company’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 transaction, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following 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 position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA opened at $27.36 on Monday. 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 stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The stock’s 50-day simple moving average is $26.64 and its 200 day simple moving average is $25.17.

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.