Adage Capital Partners Gp, L.L.C. Adds $232M in Coterra Energy Inc. ($CTRA)
Key Points
- Adage Capital Partners Gp, L.L.C. changed its Coterra Energy Inc. ($CTRA) stake by 649.0% last quarter, boosting to 8,219,512 shares worth $267.63 million.
- Wall Street's consensus rating on $CTRA is Buy and an average price target of $37.65.
- $CTRA last traded around $32.56.
Adage Capital Partners Gp, L.L.C. increased its position in Coterra Energy Inc. ($CTRA) by 649.0% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,219,512 shares of Coterra Energy Inc. after buying 7,122,100 shares during the quarter. Adage Capital Partners Gp, L.L.C.'s holdings in Coterra Energy Inc. were worth $267.63 million as of its most recent filing.
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About Coterra Energy Inc.
Coterra Energy Inc., an independent oil and gas company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Permian Basin, which covers approximately 345,000 net acres in the Delaware Basin in west Texas and southeast New Mexico, and an additional approximate of 49,000 net acres in the Delaware Basin in Lea County, New Mexico; Marcellus Shale properties, which covers approximately 186,000 net acres located in Susquehanna County, northeast Pennsylvania; and Anadarko Basin, which covers approximately 208,000 net acres located in the mid-continent region in Oklahoma. It also operates natural gas and saltwater gathering, and disposal systems in Texas. The company sells its natural gas to industrial customers, local distribution companies, oil and gas marketers, energy companies, pipeline companies, and power generation facilities. The company was formerly known as Cabot Oil & Gas Corporation and changed its name to Coterra Energy Inc. in October 2021. Coterra Energy Inc. was incorporated in 1989 and is headquartered in Houston, Texas.
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