Truist Financial Corp Has $41.29 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Truist Financial Corp boosted its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 668.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,616,660 shares of the company’s stock after acquiring an additional 1,406,170 shares during the quarter. Truist Financial Corp owned 0.22% of Coterra Energy worth $41,289,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Wealth Quarterback LLC raised its stake in Coterra Energy by 2.5% during the fourth quarter. Wealth Quarterback LLC now owns 32,481 shares of the company’s stock worth $830,000 after acquiring an additional 787 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Coterra Energy by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 129,277 shares of the company’s stock valued at $3,302,000 after buying an additional 2,716 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Coterra Energy by 11.4% in the fourth quarter. Sanctuary Advisors LLC now owns 163,244 shares of the company’s stock valued at $4,169,000 after buying an additional 16,663 shares in the last quarter. Hourglass Capital LLC increased its stake in shares of Coterra Energy by 183.5% in the fourth quarter. Hourglass Capital LLC now owns 46,350 shares of the company’s stock valued at $1,184,000 after buying an additional 30,000 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $216,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Coterra Energy stock opened at $27.92 on Wednesday. The firm has a market capitalization of $20.56 billion, a P/E ratio of 16.82, a PEG 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 business has a 50-day moving average of $26.92 and a 200-day moving average of $25.27. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the business’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 completion of the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTRA shares. Stephens raised their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Susquehanna raised their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Piper Sandler raised their target price on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Truist Financial boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three investment 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. According to MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

About Coterra Energy

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.