JPMorgan Chase & Co. Lowers Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $36.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.32% from the stock’s current price.

A number of other research analysts have also recently weighed in on CTRA. Piper Sandler raised their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Susquehanna lifted their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Truist Financial lifted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their target price for the stock from $34.00 to $37.00 in a research note on Wednesday. Finally, Wells Fargo & Company lifted 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. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.10.

Coterra Energy Trading Up 3.5 %

Shares of CTRA opened at $27.66 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 firm has a 50 day simple moving average of $27.75 and a 200-day simple moving average of $25.66. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The stock has a market cap of $21.13 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

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