OLD National Bancorp IN Raises Stock Position in Coterra Energy Inc. (NYSE:CTRA)

OLD National Bancorp IN increased its stake in Coterra Energy Inc. (NYSE:CTRA) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 337,906 shares of the company’s stock after buying an additional 6,307 shares during the period. OLD National Bancorp IN’s holdings in Coterra Energy were worth $8,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City State Bank purchased a new stake in Coterra Energy in the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc boosted its holdings in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC grew its position in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares during the period. R Squared Ltd bought a new stake in shares of Coterra Energy during the 4th quarter valued at $32,000. Finally, Values First Advisors Inc. bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTRA. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Morgan Stanley boosted their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Scotiabank lowered their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup lifted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Raymond James lifted their target price on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.41.

Coterra Energy Price Performance

Shares of CTRA stock opened at $28.25 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company’s 50-day simple moving average is $26.52 and its two-hundred day simple moving average is $25.13. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a market capitalization of $20.81 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.65 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Coterra Energy Inc. will post 1.54 EPS for the current year.

Insider Activity at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Company Profile

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’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.