Coterra Energy (NYSE:CTRA) Price Target Increased to $31.00 by Analysts at Citigroup

Coterra Energy (NYSE:CTRA) had its price objective upped by analysts at Citigroup from $30.00 to $31.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 14.14% from the company’s previous close.

Several other research firms have also weighed in on CTRA. Morgan Stanley raised their target price on Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Scotiabank boosted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Susquehanna upped their target price on Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Truist Financial raised shares of Coterra Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $27.00 to $35.00 in a report on Thursday, May 16th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $33.73.

Coterra Energy Stock Up 0.3 %

Shares of NYSE CTRA traded up $0.09 during trading hours on Friday, hitting $27.16. The stock had a trading volume of 1,465,039 shares, compared to its average volume of 6,533,844. The firm’s 50-day moving average price is $27.78 and its two-hundred day moving average price is $26.37. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89. The company has a market capitalization of $20.21 billion, a P/E ratio of 15.70 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. Analysts anticipate that Coterra Energy will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy 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 sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now 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 through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was 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 $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. acquired a new position in shares of Coterra Energy during the fourth quarter worth approximately $54,625,000. SG Americas Securities LLC boosted its position in Coterra Energy by 2,609.6% in the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock valued at $42,973,000 after buying an additional 1,484,458 shares during the last quarter. Schroder Investment Management Group boosted its position in Coterra Energy by 21.7% in the 3rd 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 last quarter. Bridgewater Associates LP acquired a new stake in shares of Coterra Energy in the 4th quarter valued at $31,112,000. Finally, Clearbridge Investments LLC bought a new stake in shares of Coterra Energy during the first quarter worth $28,967,000. 87.92% of the stock is currently 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.