ING Groep NV Sells 149,790 Shares of Coterra Energy Inc. (NYSE:CTRA)

ING Groep NV lessened its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 61.0% in the 4th quarter, HoldingsChannel reports. The fund owned 95,734 shares of the company’s stock after selling 149,790 shares during the period. ING Groep NV’s holdings in Coterra Energy were worth $2,445,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Coterra Energy news, 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 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 approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Mizuho lifted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Raymond James lifted their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Jefferies Financial Group upped 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. Susquehanna lifted their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Three 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

Coterra Energy Stock Performance

CTRA opened at $28.16 on Friday. The firm has a fifty day moving average price of $27.17 and a 200 day moving average price of $25.39. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market cap of $20.74 billion, a P/E ratio of 16.96, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

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.