Coterra Energy (NYSE:CTRA) PT Raised to $37.00 at Mizuho

Coterra Energy (NYSE:CTRA) had its price objective upped by investment analysts at Mizuho from $34.00 to $37.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price target points to a potential upside of 31.25% from the stock’s current price.

CTRA has been the subject of several other research reports. Stephens reiterated an “overweight” rating and issued a $39.00 price objective on shares of Coterra Energy in a research note on Tuesday, January 23rd. Stifel Nicolaus reduced their price target on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Raymond James upped their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their target price on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Piper Sandler upped their target price on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.67.

Coterra Energy Stock Performance

NYSE CTRA opened at $28.19 on Friday. The stock has a market capitalization of $21.19 billion, a price-to-earnings ratio of 16.29 and a beta of 0.22. The business’s 50 day moving average is $27.30 and its two-hundred day moving average is $26.38. Coterra Energy has a 12-month low of $22.91 and a 12-month high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data 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 return on equity of 10.80% and a net margin of 23.34%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Research analysts expect that Coterra Energy will post 1.82 EPS for the current year.

Insider Activity

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred 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 directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction that occurred 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 approximately $4,783,071.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. SouthState Corp boosted its position in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of Coterra Energy in the fourth quarter worth about $33,000. VisionPoint Advisory Group LLC grew its stake in shares of Coterra Energy by 133.3% in the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock valued at $35,000 after buying an additional 740 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Coterra Energy during the 4th quarter valued at about $33,000. Finally, Central Pacific Bank Trust Division acquired a new position in Coterra Energy during the 1st quarter worth approximately $44,000. 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.