Coterra Energy (NYSE:CTRA) Given New $31.00 Price Target at Citigroup

Coterra Energy (NYSE:CTRA) had its price objective lifted by Citigroup from $30.00 to $31.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 14.14% from the company’s current price.

Several other analysts also recently commented on CTRA. Mizuho upped their price objective on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. UBS Group increased their price target on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Stifel Nicolaus decreased their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Scotiabank raised their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Barclays started coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.73.

Coterra Energy Stock Up 0.3 %

NYSE CTRA traded up $0.09 on Friday, hitting $27.16. The stock had a trading volume of 1,465,039 shares, compared to its average volume of 6,533,844. The business’s fifty day moving average price is $27.78 and its 200 day moving average price is $26.37. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 15.70 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.38 billion. Equities research analysts anticipate that Coterra Energy will post 1.82 earnings per share for the current year.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently modified their holdings of CTRA. Atria Investments Inc increased its stake in Coterra Energy by 12.0% in the first quarter. Atria Investments Inc now owns 112,562 shares of the company’s stock valued at $3,138,000 after purchasing an additional 12,049 shares during the last quarter. Independent Wealth Network Inc. grew its position in shares of Coterra Energy by 9.0% in the 1st quarter. Independent Wealth Network Inc. now owns 10,350 shares of the company’s stock valued at $289,000 after buying an additional 851 shares during the last quarter. Wahed Invest LLC lifted its position in Coterra Energy by 15.5% in the first quarter. Wahed Invest LLC now owns 13,949 shares of the company’s stock valued at $389,000 after acquiring an additional 1,874 shares during the last quarter. Alethea Capital Management LLC purchased a new position in shares of Coterra Energy during the first quarter worth about $514,000. Finally, Tidal Investments LLC increased its position in shares of Coterra Energy by 57.1% during the first quarter. Tidal Investments LLC now owns 179,938 shares of the company’s stock worth $5,016,000 after purchasing an additional 65,368 shares in the last quarter. 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.