Coterra Energy (NYSE:CTRA) Price Target Raised to $37.00

Coterra Energy (NYSE:CTRA) had its price objective raised by UBS Group from $35.00 to $37.00 in a report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on CTRA. Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their price target on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Raymond James upped their price target on shares of Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $33.42.

Coterra Energy Price Performance

Shares of CTRA opened at $27.55 on Thursday. The firm has a market capitalization of $20.29 billion, a PE ratio of 16.59, a PEG ratio of 0.56 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company’s 50-day moving average is $26.87 and its 200-day moving average is $25.25. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Insider Activity

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently added to or reduced their stakes in CTRA. Private Trust Co. NA grew its stake in shares of Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after purchasing an additional 356 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of Coterra Energy by 1.8% in the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after buying an additional 389 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Coterra Energy by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after buying an additional 413 shares during the period. Blue Trust Inc. raised its position in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after acquiring an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its stake in shares of Coterra Energy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after acquiring an additional 421 shares during the period. 87.92% of the stock is owned by institutional investors.

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.