Coterra Energy (NYSE:CTRA – Get Free Report) had its price objective upped by equities researchers at Citigroup from $30.00 to $31.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 14.26% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Piper Sandler upped their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Truist Financial upgraded shares of Coterra Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $27.00 to $35.00 in a research report on Thursday, May 16th. Stifel Nicolaus dropped their target price 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. Morgan Stanley upped their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Finally, Barclays began coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $33.73.
Get Our Latest Stock Report on Coterra Energy
Coterra Energy Stock Up 0.2 %
CTRA opened at $27.13 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $27.81 and a 200-day moving average price of $26.37. Coterra Energy has a twelve month low of $22.91 and a twelve month high of $29.89. The stock has a market capitalization of $20.19 billion, a price-to-earnings ratio of 15.68 and a beta of 0.22.
Coterra Energy (NYSE:CTRA – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Equities research analysts forecast that Coterra Energy will post 1.82 earnings per share for the current year.
Insider Buying and Selling
In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the 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 transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Institutional Trading of Coterra Energy
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Coterra Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after buying an additional 407,244 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coterra Energy by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after buying an additional 235,636 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Coterra Energy by 1.5% in the 3rd quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock valued at $290,075,000 after buying an additional 161,776 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Coterra Energy by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after purchasing an additional 848,519 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Coterra Energy by 2.3% in the 3rd quarter. Northern Trust Corp now owns 9,084,114 shares of the company’s stock worth $245,725,000 after purchasing an additional 201,520 shares in the last quarter. 87.92% of the stock is currently 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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