Coterra Energy (NYSE:CTRA) Price Target Raised to $38.00

Coterra Energy (NYSE:CTRA) had its price objective raised by research analysts at Barclays from $37.00 to $38.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 34.93% from the stock’s previous close.

A number of other brokerages also recently weighed in on CTRA. Citigroup boosted their target price on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler boosted their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. cut their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Mizuho boosted their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group boosted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

Coterra Energy Price Performance

CTRA stock opened at $28.16 on Tuesday. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The business has a 50-day simple moving average of $27.79 and a two-hundred day simple moving average of $25.71. The company has a market capitalization of $21.52 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CTRA. CIBC Asset Management Inc increased its stake in Coterra Energy by 6.4% in the third quarter. CIBC Asset Management Inc now owns 126,561 shares of the company’s stock valued at $3,031,000 after acquiring an additional 7,649 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Coterra Energy by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 471,256 shares of the company’s stock valued at $11,287,000 after acquiring an additional 3,920 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coterra Energy in the third quarter valued at $360,000. Advisors Asset Management Inc. increased its stake in Coterra Energy by 2.1% in the third quarter. Advisors Asset Management Inc. now owns 65,668 shares of the company’s stock valued at $1,573,000 after acquiring an additional 1,333 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.