UBS Group Lowers Coterra Energy (NYSE:CTRA) Price Target to $30.00

Coterra Energy (NYSE:CTRA) had its price target decreased by stock analysts at UBS Group from $32.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 28.21% from the company’s current price.

CTRA has been the subject of several other research reports. Susquehanna decreased their price objective on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. Barclays dropped their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.75.

Coterra Energy Stock Up 1.2 %

CTRA stock opened at $23.40 on Friday. 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 stock has a market capitalization of $17.88 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The business has a 50-day moving average of $26.30 and a 200-day moving average of $26.37.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $0.51 EPS. The business’s quarterly revenue was up 32.9% on a year-over-year basis. On average, sell-side analysts anticipate that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Planning Group LLC lifted its holdings in shares of Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock worth $25,000 after acquiring an additional 555 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after buying an additional 737 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy during the first quarter worth $29,000. City State Bank acquired a new position in shares of Coterra Energy during the fourth quarter worth $26,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after acquiring an additional 744 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.