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

Coterra Energy (NYSE:CTRA) had its price target raised by analysts at Barclays from $37.00 to $38.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 34.93% from the company’s current price.

Several other equities research analysts also recently weighed in on CTRA. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Mizuho raised their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Jefferies Financial Group raised their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Finally, Raymond James cut their price objective on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.14.

Coterra Energy Trading Up 1.9 %

Shares of CTRA stock opened at $28.16 on Tuesday. The stock’s fifty day moving average price is $27.79 and its two-hundred day moving average price is $25.71. The company has a market cap of $21.52 billion, a PE ratio of 16.97, a P/E/G ratio of 0.59 and a beta of 0.26. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. 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 Transactions at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Coterra Energy by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after buying an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coterra Energy by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC boosted its stake in Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock valued at $486,528,000 after purchasing an additional 96,059 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after purchasing an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after purchasing an additional 1,011,166 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

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.