Coterra Energy (NYSE:CTRA) Price Target Lowered to $30.00 at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price objective decreased by equities research analysts at Morgan Stanley from $32.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 4.73% from the stock’s previous close.

CTRA has been the subject of a number of other research reports. Jefferies Financial Group upped their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Truist Financial upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Barclays raised their price objective on shares of Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Finally, Raymond James dropped their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.35.

Coterra Energy Trading Up 0.4 %

Shares of CTRA stock opened at $28.65 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a market cap of $21.89 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a fifty day moving average price of $27.91 and a 200-day moving average price of $26.01.

Insider Activity

In other news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after purchasing an additional 3,599,042 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after purchasing an additional 2,954,675 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Coterra Energy by 117.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after purchasing an additional 2,600,801 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Coterra Energy in the 4th quarter worth about $61,461,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.