Van ECK Associates Corp Sells 1,422 Shares of Coterra Energy Inc. (NYSE:CTRA)

Posted by Defense World Staff on Aug 8th, 2023

Van ECK Associates Corp trimmed its holdings in shares of Coterra Energy Inc. (NYSE:CTRA – Free Report) by 11.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,082 shares of the company’s stock after selling 1,422 shares during the period. Van ECK Associates Corp’s holdings in Coterra Energy were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of Coterra Energy in the 1st quarter worth approximately $2,472,575,000. State Street Corp bought a new stake in Coterra Energy during the 1st quarter valued at $1,493,855,000. Northern Trust Corp purchased a new position in shares of Coterra Energy in the 1st quarter valued at $300,998,000. Invesco Ltd. purchased a new position in shares of Coterra Energy in the 1st quarter valued at $169,781,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Coterra Energy in the 1st quarter worth $151,999,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTRA has been the topic of several analyst reports. Morgan Stanley cut their target price on Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. UBS Group started coverage on shares of Coterra Energy in a research report on Wednesday, April 19th. They set a “neutral” rating and a $27.00 target price for the company. Truist Financial cut their price target on shares of Coterra Energy from $29.00 to $26.00 and set a “hold” rating on the stock in a report on Monday, July 24th. Mizuho increased their price objective on Coterra Energy from $38.00 to $39.00 in a report on Friday, May 19th. Finally, Stifel Nicolaus boosted their target price on Coterra Energy from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Hold” and a consensus target price of $29.87.

View Our Latest Stock Analysis on Coterra Energy

Coterra Energy Price Performance

NYSE:CTRA opened at $27.79 on Tuesday. The firm’s fifty day moving average is $25.39 and its two-hundred day moving average is $25.03. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 5.30, a PEG ratio of 0.22 and a beta of 0.29. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.66. Coterra Energy Inc. has a one year low of $22.25 and a one year high of $32.47.

Coterra Energy Profile

(Free Report)

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.