Principal Financial Group Inc. Sells 29,194 Shares of Coterra Energy Inc. $CTRA

Principal Financial Group Inc. reduced its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 862,942 shares of the company’s stock after selling 29,194 shares during the quarter. Principal Financial Group Inc.’s holdings in Coterra Energy were worth $20,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Coterra Energy by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after buying an additional 2,872,288 shares in the last quarter. State Street Corp boosted its holdings in Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after acquiring an additional 386,526 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after acquiring an additional 1,495,553 shares during the last quarter. Geode Capital Management LLC increased its position in Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock worth $522,936,000 after purchasing an additional 953,824 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Coterra Energy by 1.1% during the 2nd quarter. Schroder Investment Management Group now owns 13,575,101 shares of the company’s stock worth $344,536,000 after purchasing an additional 141,830 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CTRA shares. Scotiabank reiterated a “sector perform” rating and set a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, February 3rd. Susquehanna lifted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Siebert Williams Shank increased their target price on Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Wolfe Research boosted their target price on Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Fourteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $33.40.

Coterra Energy Trading Up 1.3%

NYSE CTRA opened at $30.70 on Monday. Coterra Energy Inc. has a 52 week low of $22.33 and a 52 week high of $30.94. 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 stock’s 50 day moving average price is $26.64 and its two-hundred day moving average price is $25.12. The stock 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 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.