Coterra Energy (NYSE:CTRA) Price Target Raised to $34.00 at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price objective hoisted by equities research analysts at Piper Sandler from $33.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 19.78% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Barclays upped their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley increased their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Stephens boosted their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Susquehanna increased their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Truist Financial boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.41.

Coterra Energy Price Performance

Shares of CTRA opened at $28.39 on Wednesday. The business has a 50-day moving average of $26.54 and a 200-day moving average of $25.15. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 0.65 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. As a group, equities research analysts anticipate that Coterra Energy will post 1.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the period. Czech National Bank increased its holdings in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares during the period. Bourgeon Capital Management LLC raised its position in Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 shares during the last quarter. Hartford Funds Management Co LLC purchased a new stake in Coterra Energy in the 3rd quarter worth approximately $575,000. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Coterra Energy in the 4th quarter worth approximately $217,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.