Coterra Energy (NYSE:CTRA) Price Target Raised to $32.00 at Citigroup

Coterra Energy (NYSE:CTRA) had its target price raised by equities researchers at Citigroup from $28.00 to $32.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 19.96% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Barclays boosted their price target on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, UBS Group raised their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Stock Down 0.4 %

CTRA stock opened at $26.68 on Tuesday. The company has a 50 day moving average of $24.52 and a two-hundred day moving average of $25.39. The company has a market cap of $19.65 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.75 and a beta of 0.22. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. Coterra Energy’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently added to or reduced their stakes in CTRA. Wellington Management Group LLP lifted its position in shares of Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after buying an additional 15,736,247 shares during the period. Holocene Advisors LP raised its stake in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Coterra Energy in the 3rd quarter valued at $28,380,000. Finally, Marshall Wace LLP grew its holdings in shares of Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after purchasing an additional 1,127,399 shares during the last quarter. 87.92% of the stock is 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.