Raymond James Has Lowered Expectations for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target lowered by Raymond James from $41.00 to $37.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 38.61% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on CTRA. JPMorgan Chase & Co. raised Coterra Energy from a “hold” rating to an “accumulate” rating and set a $37.00 target price on the stock in a research report on Wednesday. Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler lifted their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Susquehanna lifted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.10.

Coterra Energy Stock Down 2.0 %

CTRA stock opened at $26.69 on Wednesday. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a market cap of $20.40 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The business’s 50-day simple moving average is $27.72 and its 200 day simple moving average is $25.64. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Czech National Bank raised its position in Coterra Energy by 6.1% in the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock worth $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC raised its position in Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after purchasing an additional 122,487 shares during the last quarter. Hartford Funds Management Co LLC bought a new position in Coterra Energy in the 3rd quarter worth approximately $575,000. Finally, M.E. Allison & CO. Inc. bought a new position in Coterra Energy in the 4th quarter worth approximately $217,000. 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.