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

Coterra Energy (NYSE:CTRA) had its target price increased by investment analysts 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 price objective would suggest a potential upside of 19.54% from the stock’s current price.

Several other research analysts have also weighed in on the company. Stephens lifted their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho boosted their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Wells Fargo & Company increased their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Price Performance

Coterra Energy stock traded down $0.22 during mid-day trading on Tuesday, reaching $26.77. The company had a trading volume of 647,285 shares, compared to its average volume of 6,238,335. The business has a fifty day simple moving average of $24.44 and a 200 day simple moving average of $25.40. The company has a market cap of $19.72 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.80 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

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

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Coterra Energy by 28.4% in the third 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 in the last quarter. Holocene Advisors LP lifted its holdings in shares of Coterra Energy by 187.2% in the 3rd 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 during the last quarter. Bank of Montreal Can lifted its holdings in shares of Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares during the last quarter. Weiss Asset Management LP purchased 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% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the last quarter. 87.92% of the stock is currently 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.