Blume Capital Management Inc. Purchases 18,165 Shares of Coterra Energy Inc. $CTRA

Blume Capital Management Inc. increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 137.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,374 shares of the company’s stock after acquiring an additional 18,165 shares during the period. Blume Capital Management Inc.’s holdings in Coterra Energy were worth $742,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in shares of Coterra Energy by 4,130.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 409,696 shares of the company’s stock worth $9,689,000 after purchasing an additional 400,012 shares during the last quarter. Candriam S.C.A. raised its position in Coterra Energy by 195.5% in the 3rd quarter. Candriam S.C.A. now owns 100,782 shares of the company’s stock valued at $2,383,000 after buying an additional 66,676 shares during the last quarter. Fielder Capital Group LLC bought a new position in Coterra Energy during the 3rd quarter valued at $224,000. Smartleaf Asset Management LLC boosted its holdings in Coterra Energy by 63.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 12,522 shares of the company’s stock worth $296,000 after acquiring an additional 4,857 shares during the last quarter. Finally, Concord Asset Management LLC VA grew its stake in shares of Coterra Energy by 37.7% in the 3rd quarter. Concord Asset Management LLC VA now owns 33,576 shares of the company’s stock worth $794,000 after acquiring an additional 9,200 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of recent analyst reports. Wolfe Research raised their price target on shares of Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. The Goldman Sachs Group cut their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Siebert Williams Shank lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Johnson Rice decreased their price target on shares of Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, Piper Sandler lowered their price target on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Fourteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.40.

Coterra Energy Stock Up 1.3%

Shares of NYSE CTRA opened at $30.70 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $26.64 and a 200-day moving average of $25.12. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 0.74 and a beta of 0.38. Coterra Energy Inc. has a 12 month low of $22.33 and a 12 month high of $30.94.

About Coterra Energy

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.