Coterra Energy (NYSE:CTRA) Shares Gap Down – Should You Sell?

Shares of Coterra Energy Inc. (NYSE:CTRA) gapped down prior to trading on Tuesday . The stock had previously closed at $27.98, but opened at $26.50. Coterra Energy shares last traded at $27.50, with a volume of 1,459,425 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James upped their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group boosted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. UBS Group increased their target price on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

Coterra Energy Stock Down 2.8 %

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 $20.04 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The business has a fifty day moving average price of $27.23 and a two-hundred day moving average price of $25.43.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Large investors have recently bought and sold shares of the business. City State Bank acquired a new position in Coterra Energy during the fourth quarter worth $26,000. AdvisorNet Financial Inc raised its position in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC boosted its holdings in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after buying an additional 869 shares during the last quarter. R Squared Ltd purchased a new stake in Coterra Energy during the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds 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.