Coterra Energy (NYSE:CTRA) PT Raised to $29.00 at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price objective lifted by investment analysts at Morgan Stanley from $26.00 to $29.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 6.56% from the company’s current price.

CTRA has been the topic of several other reports. UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Stifel Nicolaus decreased their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Stephens reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Coterra Energy in a report on Tuesday, January 23rd. Piper Sandler increased their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.20.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $27.22 on Wednesday. The company’s fifty day moving average price is $26.59 and its 200 day moving average price is $26.37. Coterra Energy has a 1 year low of $22.91 and a 1 year high of $29.89. The company has a market capitalization of $20.46 billion, a PE ratio of 12.72 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, research analysts predict that Coterra Energy will post 1.93 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently made changes to their positions in CTRA. ICA Group Wealth Management LLC acquired a new stake in shares of Coterra Energy during the fourth quarter valued at about $25,000. Quarry LP increased its position in shares of Coterra Energy by 157.4% during the fourth quarter. Quarry LP now owns 1,063 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. SouthState Corp boosted its stake in shares of Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after purchasing an additional 454 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of Coterra Energy in the fourth quarter valued at approximately $33,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Coterra Energy in the fourth quarter valued at approximately $33,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.