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

Coterra Energy (NYSE:CTRA) had its price target increased by equities research analysts at Piper Sandler from $33.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 19.78% from the company’s current price.

CTRA has been the topic of several other research reports. 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. Barclays raised their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Scotiabank decreased their price objective on 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. Finally, Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.41.

Coterra Energy Stock Performance

NYSE:CTRA opened at $28.39 on Wednesday. The stock has a market capitalization of $20.91 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 0.65 and a beta of 0.27. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The firm has a 50 day moving average of $26.54 and a 200-day moving average of $25.15.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, sell-side analysts anticipate that Coterra Energy will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % 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 corporate insiders.

Hedge Funds Weigh In On Coterra Energy

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Coterra Energy by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 725,344 shares of the company’s stock worth $19,345,000 after buying an additional 2,283 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Coterra Energy by 1.4% during the 2nd quarter. Mackenzie Financial Corp now owns 133,846 shares of the company’s stock worth $3,570,000 after purchasing an additional 1,788 shares in the last quarter. Algert Global LLC increased its position in shares of Coterra Energy by 16.3% in the second quarter. Algert Global LLC now owns 14,625 shares of the company’s stock worth $390,000 after purchasing an additional 2,055 shares during the period. Creative Planning raised its stake in Coterra Energy by 6.7% in the second quarter. Creative Planning now owns 62,356 shares of the company’s stock valued at $1,663,000 after purchasing an additional 3,926 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Coterra Energy by 198.8% during the second quarter. NewEdge Advisors LLC now owns 82,825 shares of the company’s stock worth $2,209,000 after purchasing an additional 55,109 shares during the period. 87.92% of the stock is owned by institutional investors.

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.