Coterra Energy (NYSE:CTRA – Get Free Report) was upgraded by equities research analysts at Truist Financial from a “hold” rating to a “buy” rating in a report released on Thursday, Marketbeat reports. The firm presently has a $35.00 target price on the stock, up from their previous target price of $27.00. Truist Financial’s target price points to a potential upside of 24.96% from the company’s current price.
CTRA has been the subject of several other reports. Barclays initiated coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Susquehanna lifted their target price on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. 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. Stephens restated an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Finally, Mizuho boosted their target price on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $33.67.
Read Our Latest Stock Analysis on Coterra Energy
Coterra Energy Stock Up 0.7 %
Shares of NYSE:CTRA traded up $0.20 during trading on Thursday, reaching $28.01. 7,588,926 shares of the stock were exchanged, compared to its average volume of 6,674,267. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89. The stock has a fifty day moving average of $27.67 and a two-hundred day moving average of $26.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The firm has a market cap of $20.85 billion, a price-to-earnings ratio of 16.19 and a beta of 0.22.
Coterra Energy (NYSE:CTRA – Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. Research analysts anticipate that Coterra Energy will post 1.82 earnings per share for the current fiscal year.
Insider Transactions at Coterra Energy
In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was 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 $2,449,327.28. 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
A number of institutional investors have recently bought and sold shares of CTRA. Balyasny Asset Management L.P. bought a new position in shares of Coterra Energy in the 4th quarter worth approximately $54,625,000. SG Americas Securities LLC raised its holdings in Coterra Energy by 2,609.6% in the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares in the last quarter. Schroder Investment Management Group lifted its position in Coterra Energy by 21.7% during the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after buying an additional 1,281,094 shares during the period. Bridgewater Associates LP purchased a new position in Coterra Energy during the fourth quarter valued at $31,112,000. Finally, Clearbridge Investments LLC bought a new stake in Coterra Energy during the first quarter worth about $28,967,000. 87.92% of the stock is owned by institutional investors.
About Coterra Energy
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.
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