Coterra Energy (NYSE:CTRA – Get Free Report) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat reports. The firm presently has a $30.00 price target on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 17.32% from the company’s current price.
A number of other analysts have also recently issued reports on the stock. Susquehanna lifted their target price on shares of Coterra Energy from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. Citigroup upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $28.00 to $30.00 in a research note on Monday. Truist Financial boosted their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Mizuho restated a “buy” rating and issued a $42.00 price objective on shares of Coterra Energy in a research note on Tuesday, September 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Coterra Energy from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.20.
Read Our Latest Analysis on Coterra Energy
Coterra Energy Stock Up 3.7 %
NYSE CTRA opened at $25.57 on Thursday. The company’s 50 day simple moving average is $27.07 and its 200 day simple moving average is $26.65. The company has a market capitalization of $19.23 billion, a P/E ratio of 8.79, a PEG ratio of 0.19 and a beta of 0.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.04 and a quick ratio of 1.01. Coterra Energy has a 12 month low of $22.25 and a 12 month high of $29.89.
Coterra Energy (NYSE:CTRA – Get Free Report) last released its earnings results on Monday, November 6th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 33.97% and a return on equity of 17.14%. Equities research analysts expect that Coterra Energy will post 2.3 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Dan O. Dinges sold 68,275 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $27.22, for a total transaction of $1,858,445.50. Following the completion of the transaction, the director now directly owns 3,152,392 shares of the company’s stock, valued at approximately $85,808,110.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Dan O. Dinges sold 400,000 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $26.60, for a total value of $10,640,000.00. Following the completion of the transaction, the director now directly owns 3,302,392 shares of the company’s stock, valued at $87,843,627.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dan O. Dinges sold 68,275 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $27.22, for a total transaction of $1,858,445.50. Following the completion of the transaction, the director now directly owns 3,152,392 shares of the company’s stock, valued at $85,808,110.24. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On Coterra Energy
Hedge funds have recently added to or reduced their stakes in the business. Meitav Investment House Ltd. acquired a new stake in shares of Coterra Energy during the second quarter worth $213,000. ICA Group Wealth Management LLC acquired a new stake in shares of Coterra Energy during the fourth quarter worth $25,000. SouthState Corp lifted 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 worth $29,000 after buying an additional 454 shares in the last quarter. VisionPoint Advisory Group LLC lifted 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 worth $35,000 after buying an additional 740 shares in the last quarter. Finally, Gradient Investments LLC lifted its holdings in shares of Coterra Energy by 1,976.2% during the second quarter. Gradient Investments LLC now owns 1,308 shares of the company’s stock worth $33,000 after buying an additional 1,245 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.
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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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