Sun Sep 15 13:49:35 UTC 2024: ## Johnson Investment Counsel Slashes Coterra Energy Holdings Amid Mixed Investor Sentiment

**New York, NY – September 15, 2024** – Johnson Investment Counsel Inc. significantly reduced its stake in Coterra Energy Inc. (NYSE:CTRA) during the second quarter, selling off nearly half its holdings. The firm now owns 13,147 shares of Coterra Energy, worth approximately $351,000, after shedding 11,742 shares in the period.

This move comes amidst mixed investor sentiment surrounding the independent oil and gas company. While some institutional investors, like Fifth Third Bancorp and TCW Group Inc., increased their holdings in Coterra Energy, others followed suit with Johnson Investment Counsel, trimming their positions.

Despite the recent dip in Coterra Energy’s share price, several brokerages remain optimistic about the company’s future prospects. Citigroup, Wolfe Research, Roth Capital, Truist Financial, and UBS Group have all issued “buy” ratings on the stock, with price targets ranging from $31.00 to $35.00. However, the company’s recent earnings report revealed a miss on analysts’ estimates, potentially contributing to the recent market volatility.

Coterra Energy’s share price opened at $22.78 on Friday, after closing the previous trading session at $22.49. The company is currently trading at a market cap of $16.95 billion.

While Johnson Investment Counsel’s decision to reduce its stake signals potential concerns about Coterra Energy’s future performance, the overall investor sentiment remains cautiously optimistic. The company’s robust dividend, strong industry position, and positive analyst outlook suggest that Coterra Energy is likely to continue to play a significant role in the oil and gas sector.

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