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

Coterra Energy (NYSE:CTRA) had its price target increased by research analysts at Barclays from $37.00 to $38.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 30.03% from the company’s current price.

Several other brokerages also recently issued reports on CTRA. Jefferies Financial Group raised their price target on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, February 4th. Truist Financial lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. UBS Group lifted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Piper Sandler lifted their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.14.

Coterra Energy Trading Up 1.6 %

Shares of Coterra Energy stock opened at $29.23 on Tuesday. The business has a fifty day simple moving average of $27.88 and a two-hundred day simple moving average of $25.76. 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 $22.33 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Insider Buying and Selling at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

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

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.