Illinois Municipal Retirement Fund Reduces Holdings in Coterra Energy Inc. $CTRA

Illinois Municipal Retirement Fund reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 293,569 shares of the company’s stock after selling 68,900 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Coterra Energy were worth $6,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRA. Davis Selected Advisers purchased a new stake in shares of Coterra Energy during the second quarter worth $237,002,000. Vanguard Group Inc. boosted its position in Coterra Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after acquiring an additional 2,872,288 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Coterra Energy by 34.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,865,527 shares of the company’s stock valued at $162,370,000 after acquiring an additional 1,741,125 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Coterra Energy by 5.9% during the 2nd 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Coterra Energy in the 2nd quarter valued at about $29,149,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of Coterra Energy stock 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 business’s fifty day simple moving average is $27.03 and its 200-day simple moving average is $25.35. The firm has a market cap of $23.87 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. Barclays lowered their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Johnson Rice dropped their target price on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Wolfe Research lifted their price target on Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. Finally, TD Cowen lowered their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.48.

Coterra Energy Company 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.