Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Citigroup Analyst Says

Coterra Energy (NYSE:CTRA) had its target price boosted by Citigroup from $28.00 to $32.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 19.96% from the stock’s current price.

Several other research firms have also commented on CTRA. Barclays upped their target price on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. UBS Group increased their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Piper Sandler raised their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Susquehanna upped their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Scotiabank cut their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.47.

Coterra Energy Stock Down 0.4 %

Shares of Coterra Energy stock opened at $26.68 on Tuesday. The business has a 50-day moving average price of $24.52 and a 200 day moving average price of $25.39. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The firm has a market cap of $19.65 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.75 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued 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 firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.47 earnings per share. Coterra Energy’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts forecast that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently modified their holdings of CTRA. Franklin Resources Inc. raised its holdings in shares of Coterra Energy by 40.0% during the third quarter. Franklin Resources Inc. now owns 1,194,064 shares of the company’s stock valued at $29,147,000 after acquiring an additional 341,180 shares during the period. Synovus Financial Corp grew its position in Coterra Energy by 16.0% during the 3rd quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock worth $379,000 after purchasing an additional 2,184 shares in the last quarter. Tidal Investments LLC raised its stake in Coterra Energy by 19.9% during the 3rd quarter. Tidal Investments LLC now owns 143,947 shares of the company’s stock valued at $3,448,000 after purchasing an additional 23,844 shares during the period. Blankinship & Foster LLC purchased a new stake in shares of Coterra Energy in the third quarter valued at $1,420,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Coterra Energy in the third quarter worth $621,000. 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.