Coterra Energy (NYSE:CTRA) Price Target Increased to $37.00 by Analysts at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price target raised by analysts at Piper Sandler from $35.00 to $37.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 33.33% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Mizuho reissued a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Wednesday, April 3rd. Truist Financial reduced their target price on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Barclays initiated coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Finally, Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and reduced their target price for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.75 on Friday. The firm’s 50 day moving average price is $26.71 and its 200-day moving average price is $26.38. Coterra Energy has a twelve month low of $22.91 and a twelve month high of $29.89. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $20.86 billion, a PE ratio of 12.97 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 for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Equities research analysts expect that Coterra Energy will post 1.93 EPS for the current year.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction 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 disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CTRA. ICA Group Wealth Management LLC purchased a new position in shares of Coterra Energy in the fourth quarter valued at $25,000. Quarry LP grew its holdings in shares of Coterra Energy by 157.4% in 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 in the last quarter. SouthState Corp grew its holdings in shares of Coterra Energy by 75.4% in 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 in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Coterra Energy in the fourth quarter valued at $33,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in Coterra Energy in the fourth quarter worth $33,000. 87.92% of the stock is owned by hedge funds and other 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.