Delta Financial Group Inc. Invests $471,000 in Coterra Energy Inc. (NYSE:CTRA)

Delta Financial Group Inc. purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 18,453 shares of the company’s stock, valued at approximately $471,000.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of 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 buying an additional 15,736,247 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after buying an additional 2,954,675 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Coterra Energy by 668.0% during the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after buying an additional 1,406,170 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Coterra Energy during the third quarter valued at $28,380,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Coterra Energy during the third quarter valued at $21,555,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Jefferies Financial Group upped their price target on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Susquehanna upped their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Stephens upped their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.42.

Coterra Energy Stock Down 2.2 %

CTRA stock opened at $28.16 on Friday. The company has a market cap of $20.74 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 0.59 and a beta of 0.26. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The firm has a 50-day moving average of $27.17 and a two-hundred day moving average of $25.39.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by insiders.

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.