Coterra Energy (NYSE:CTRA) Given New $34.00 Price Target at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price objective upped by stock analysts at Piper Sandler from $33.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 22.08% from the stock’s current price.

Several other equities research analysts also recently weighed in on CTRA. Wells Fargo & Company upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays boosted their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley boosted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. UBS Group boosted their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank lowered their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.24.

Coterra Energy Stock Performance

NYSE:CTRA opened at $27.85 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.65 and a beta of 0.27. The company’s 50-day moving average is $26.49 and its two-hundred day moving average is $25.11. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm posted $0.47 earnings per share. Coterra Energy’s revenue was up .2% on a year-over-year basis. Analysts forecast that Coterra Energy will post 1.54 EPS for the current year.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. 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

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after purchasing an additional 128,397 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after purchasing an additional 195,966 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of Coterra Energy by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after purchasing an additional 284,106 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other 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.