Manning & Napier Advisors LLC Decreases Stake in Coterra Energy Inc. (NYSE:CTRA)

Manning & Napier Advisors LLC cut its stake in shares of Coterra Energy Inc. (NYSE:CTRA) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,672 shares of the company’s stock after selling 19,523 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Coterra Energy were worth $7,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Holocene Advisors LP grew its position in Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after purchasing an additional 2,954,675 shares during the period. Weiss Asset Management LP purchased a new position in shares of Coterra Energy during the 3rd quarter valued at about $28,380,000. Erste Asset Management GmbH acquired a new position in shares of Coterra Energy in the 3rd quarter valued at about $21,555,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Coterra Energy by 395.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock worth $21,551,000 after buying an additional 718,182 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CTRA shares. Raymond James boosted their price target on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Susquehanna lifted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Scotiabank cut their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler increased their price target on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $33.24.

Insider Buying and Selling

In other 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 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. This represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of Coterra Energy 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 sale, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $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 company insiders.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $28.25 on Thursday. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.65 and a beta of 0.27. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a 50-day simple moving average of $26.52 and a 200-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 (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.47 earnings per share. On average, equities analysts predict that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal 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.