Raymond James Raises Coterra Energy (NYSE:CTRA) Price Target to $41.00

Coterra Energy (NYSE:CTRA) had its price target increased by stock analysts at Raymond James from $35.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 41.13% from the company’s current price.

Several other research firms have also recently commented on CTRA. Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Scotiabank lowered their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho lifted their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Morgan Stanley lifted their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Piper Sandler lowered their target price on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.18.

Coterra Energy Trading Down 0.6 %

CTRA stock opened at $29.05 on Thursday. The business has a fifty day moving average price of $26.43 and a 200 day moving average price of $25.12. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The stock has a market capitalization of $21.40 billion, a price-to-earnings ratio of 17.50, a P/E/G 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 released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that Coterra Energy will post 1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy 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 in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CTRA. Wellington Management Group LLP increased its position in shares of Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Holocene Advisors LP increased its position in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after buying an additional 2,954,675 shares during the last quarter. Weiss Asset Management LP acquired a new position in Coterra Energy during the third quarter worth approximately $28,380,000. Marshall Wace LLP increased its position in Coterra Energy by 5,325.5% during the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after buying an additional 1,127,399 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Coterra Energy during the third quarter worth approximately $21,555,000. Institutional investors and hedge funds 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.