Varma Mutual Pension Insurance Co Acquires 32,300 Shares of Coterra Energy Inc. $CTRA

Varma Mutual Pension Insurance Co lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 8.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 406,991 shares of the company’s stock after purchasing an additional 32,300 shares during the period. Varma Mutual Pension Insurance Co owned about 0.05% of Coterra Energy worth $9,625,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CTRA. QRG Capital Management Inc. grew its stake in shares of Coterra Energy by 67.0% in the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after purchasing an additional 57,461 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Coterra Energy by 60.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after buying an additional 103,381 shares during the last quarter. Summit Global Investments bought a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $1,086,000. State of Michigan Retirement System increased its stake in shares of Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock valued at $6,204,000 after buying an additional 13,500 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Coterra Energy by 36.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after acquiring an additional 220,688 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen reduced their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna boosted their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a research report on Tuesday, February 3rd. Scotiabank restated a “sector perform” rating and issued a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, February 3rd. Johnson Rice reduced their target price on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Finally, Mizuho increased their target price on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Fifteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average price target of $33.48.

Coterra Energy Price Performance

CTRA stock opened at $31.35 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The firm has a market capitalization of $23.87 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.76 and a beta of 0.38. The firm has a 50 day moving average price of $27.03 and a 200-day moving average price of $25.35. Coterra Energy Inc. has a 52-week low of $22.33 and a 52-week high of $31.66.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.