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

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

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Williams Trading set a $37.00 price objective on Coterra Energy in a report on Wednesday, March 5th. Barclays boosted their target price on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Mizuho raised their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.35.

Coterra Energy Stock Up 0.4 %

Shares of Coterra Energy stock opened at $28.65 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The company’s 50 day moving average price is $27.91 and its 200-day moving average price is $26.01. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.59 and a beta of 0.26.

Insider Activity at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on 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 $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Coterra Energy

A number of institutional investors have recently made changes to their positions in CTRA. City State Bank purchased a new position in shares of Coterra Energy during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its stake in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd purchased a new position in shares of Coterra Energy in the 4th quarter worth $32,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Coterra Energy in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.