Coterra Energy (NYSE:CTRA) Price Target Raised to $37.00

Coterra Energy (NYSE:CTRA) had its target price hoisted by research analysts at Piper Sandler from $35.00 to $37.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 33.77% from the company’s previous close.

Several other research analysts also recently commented on CTRA. Barclays initiated coverage on Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price for the company. Truist Financial dropped their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Stephens restated an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research report on Tuesday, January 23rd. Morgan Stanley upped their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Coterra Energy Price Performance

Shares of NYSE CTRA traded up $0.44 during trading hours on Friday, hitting $27.66. 3,236,713 shares of the stock were exchanged, compared to its average volume of 6,861,799. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89. The company has a market cap of $20.80 billion, a PE ratio of 12.95 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The company’s fifty day simple moving average is $26.59 and its two-hundred day simple moving average is $26.37.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. On average, sell-side analysts predict that Coterra Energy will post 1.93 EPS for the current year.

Insider Activity

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CTRA. Vanguard Group Inc. acquired a new position in shares of Coterra Energy during the first quarter worth approximately $2,472,575,000. State Street Corp acquired a new position in Coterra Energy during the first quarter worth $1,493,855,000. Geode Capital Management LLC lifted its stake in shares of Coterra Energy by 5.7% in the first quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock valued at $454,088,000 after buying an additional 1,000,620 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Coterra Energy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after buying an additional 235,636 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Coterra Energy by 3.5% during the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after acquiring an additional 544,768 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Company Profile

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.