Essex Financial Services Inc. Buys Shares of 8,274 Coterra Energy Inc. (NYSE:CTRA)

Essex Financial Services Inc. purchased a new position in shares of Coterra Energy Inc. (NYSE:CTRA) in the 4th quarter, Holdings Channel reports. The firm purchased 8,274 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CENTRAL TRUST Co increased 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 buying an additional 389 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. grew its stake in 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 in the last quarter. Venturi Wealth Management LLC increased its position 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 worth $804,000 after purchasing an additional 474 shares during the last quarter. Finally, Sky Investment Group LLC raised its stake in shares of Coterra Energy by 3.7% during the 4th quarter. Sky Investment Group LLC now owns 13,899 shares of the company’s stock worth $355,000 after purchasing an additional 492 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coterra Energy

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

Coterra Energy Trading Down 0.2 %

Shares of NYSE:CTRA opened at $27.55 on Friday. The business’s 50 day simple moving average is $26.87 and its 200 day simple moving average is $25.26. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95. 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 has a market capitalization of $20.29 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.56 and a beta of 0.26.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CTRA shares. Piper Sandler raised their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Truist Financial lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Susquehanna upped their price objective on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, UBS Group lifted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $33.42.

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.