Coterra Energy (NYSE:CTRA) Price Target Raised to $29.00

Coterra Energy (NYSE:CTRA) had its price target raised by research analysts at Morgan Stanley from $26.00 to $29.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 6.56% from the company’s current price.

Several other analysts also recently issued reports on the stock. Piper Sandler increased their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Wednesday, April 3rd. Stephens reiterated an “overweight” rating and set a $39.00 target price on shares of Coterra Energy in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. increased their target price on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Scotiabank increased their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.22 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89. The company has a 50 day moving average of $26.59 and a two-hundred day moving average of $26.37. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 12.72 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, analysts forecast that Coterra Energy will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coterra Energy news, 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 value of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value 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 $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC acquired a new stake in Coterra Energy in the fourth quarter worth $25,000. SouthState Corp increased its holdings in shares of Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the period. Quarry LP increased its holdings in shares of Coterra Energy by 157.4% during the fourth quarter. Quarry LP now owns 1,063 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy during the fourth quarter valued at $33,000. Finally, VisionPoint Advisory Group LLC increased its holdings in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after purchasing an additional 740 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

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.