BCGM Wealth Management LLC Grows Position in Coterra Energy Inc. (NYSE:CTRA)

BCGM Wealth Management LLC lifted its holdings in shares of Coterra Energy Inc. (NYSE:CTRA) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 104,512 shares of the company’s stock after acquiring an additional 2,915 shares during the period. BCGM Wealth Management LLC’s holdings in Coterra Energy were worth $2,669,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CTRA. Wellington Management Group LLP grew its stake in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after buying an additional 15,736,247 shares in the last quarter. Holocene Advisors LP grew its position in Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares in the last quarter. Truist Financial Corp increased its stake in Coterra Energy by 668.0% in the fourth quarter. Truist Financial Corp now owns 1,616,660 shares of the company’s stock valued at $41,289,000 after acquiring an additional 1,406,170 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Coterra Energy during the third quarter valued at about $28,380,000. Finally, Erste Asset Management GmbH bought a new stake in Coterra Energy during the third quarter worth about $21,555,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Stock Performance

NYSE:CTRA opened at $28.16 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $27.17 and its 200 day simple moving average is $25.40. The stock has a market cap of $20.74 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CTRA. Jefferies Financial Group increased their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Morgan Stanley lifted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Raymond James upped their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Piper Sandler lifted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, UBS Group upped their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.42.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of the 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 owns 77,075 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 1.70% of the company’s stock.

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.