Varma Mutual Pension Insurance Co Raises Position in Coterra Energy Inc. $CTRA

Varma Mutual Pension Insurance Co lifted its position in Coterra Energy Inc. (NYSE:CTRA) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 406,991 shares of the company’s stock after buying an additional 32,300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Coterra Energy were worth $9,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRA. Rhumbline Advisers lifted its position in Coterra Energy by 5.5% in the 3rd quarter. Rhumbline Advisers now owns 1,598,767 shares of the company’s stock valued at $37,811,000 after acquiring an additional 83,142 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Coterra Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after buying an additional 398 shares during the last quarter. MQS Management LLC bought a new stake in Coterra Energy in the 3rd quarter worth about $350,000. Baader Bank Aktiengesellschaft raised its position in Coterra Energy by 584.6% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 174,217 shares of the company’s stock worth $4,120,000 after buying an additional 148,770 shares during the last quarter. Finally, Profund Advisors LLC lifted its stake in Coterra Energy by 1.4% during the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares during the period. Institutional investors own 87.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTRA. Raymond James Financial lifted their price target on shares of Coterra Energy from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. TD Cowen cut their price objective on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Susquehanna raised their target price on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a research report on Tuesday, February 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $33.48.

Coterra Energy Stock Up 1.8%

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

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.