OLD National Bancorp IN Acquires 6,307 Shares of Coterra Energy Inc. (NYSE:CTRA)

OLD National Bancorp IN lifted its holdings in Coterra Energy Inc. (NYSE:CTRA) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,906 shares of the company’s stock after acquiring 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.

Several other hedge funds have also recently made changes to their positions in the business. City State Bank bought a new stake in Coterra Energy in the 4th quarter valued at about $26,000. AdvisorNet Financial Inc boosted its stake in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC boosted its stake in 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 purchasing an additional 869 shares during the last quarter. R Squared Ltd purchased a new position in shares of Coterra Energy in the 4th quarter worth approximately $32,000. Finally, Values First Advisors Inc. purchased a new position in shares of Coterra Energy in the 3rd quarter worth approximately $57,000. 87.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Coterra Energy

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

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of research analyst reports. Mizuho boosted their target price on 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 boosted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group boosted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Citigroup lifted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley lifted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.41.

Coterra Energy Stock Performance

NYSE CTRA opened at $28.25 on Thursday. The company has a 50-day simple moving average of $26.52 and a two-hundred day simple moving average of $25.13. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market cap of $20.81 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.65 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

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.