Ruffer LLP Takes $6.81 Million Position in Coterra Energy Inc. (NYSE:CTRA)

Ruffer LLP acquired a new stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 235,701 shares of the company's stock, valued at approximately $6,812,000.

A number of other institutional investors have also modified their holdings of CTRA. Huntington National Bank raised its position in shares of Coterra Energy by 106.5% in the fourth quarter. Huntington National Bank now owns 5,067 shares of the company's stock valued at $129,000 after buying an additional 2,613 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Coterra Energy by 16.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,181,198 shares of the company's stock valued at $55,708,000 after buying an additional 302,327 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Coterra Energy in the fourth quarter valued at approximately $5,454,000. Envestnet Asset Management Inc. grew its holdings in Coterra Energy by 117.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock valued at $123,036,000 after purchasing an additional 2,600,801 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Coterra Energy by 16.0% in the fourth quarter. Russell Investments Group Ltd. now owns 1,024,501 shares of the company's stock valued at $26,166,000 after purchasing an additional 141,491 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CTRA shares. The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 target price on shares of Coterra Energy in a report on Tuesday, July 1st. UBS Group lowered their target price on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wells Fargo & Company lowered their target price on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Bank of America lowered their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Scotiabank restated an "outperform" rating on shares of Coterra Energy in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average target price of $33.16.

Coterra Energy Price Performance

Shares of CTRA stock opened at $23.69 on Monday. The company has a market capitalization of $18.08 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. The firm has a fifty day simple moving average of $25.13 and a 200-day simple moving average of $26.16. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The business's quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities research analysts anticipate 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.

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