Sumitomo Mitsui Trust Group Inc. Purchases 103,048 Shares of Coterra Energy Inc. (NYSE:CTRA)

Sumitomo Mitsui Trust Group Inc. raised its position in Coterra Energy Inc. (NYSE:CTRA) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,753,907 shares of the company’s stock after buying an additional 103,048 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Coterra Energy worth $44,795,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CTRA. CENTRAL TRUST Co raised its stake in Coterra Energy by 1.8% in the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after acquiring an additional 389 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares in the last quarter. Blue Trust Inc. raised its position in shares of Coterra Energy by 5.8% in the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock valued at $182,000 after purchasing an additional 420 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after buying an additional 474 shares in the last quarter. Finally, Sky Investment Group LLC boosted its holdings in Coterra Energy by 3.7% in the 4th quarter. Sky Investment Group LLC now owns 13,899 shares of the company’s stock worth $355,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $28.44 on Tuesday. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 0.56 and a beta of 0.26. The business has a 50 day moving average of $26.64 and a 200 day moving average of $25.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTRA shares. Morgan Stanley boosted their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Citigroup increased their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays upped their price target on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, UBS Group boosted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.11.

About Coterra Energy

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.