Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Coterra Energy (NYSE:CTRA) had its price objective boosted by analysts at Jefferies Financial Group from $26.00 to $28.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential downside of 0.13% from the stock’s current price.

A number of other research firms have also weighed in on CTRA. Piper Sandler upped their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Mizuho raised their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Truist Financial lifted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Raymond James lifted their target price on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.11.

Coterra Energy Price Performance

CTRA traded down $0.00 on Tuesday, hitting $28.04. 817,324 shares of the company’s stock were exchanged, compared to its average volume of 6,444,672. The firm has a 50-day moving average price of $26.56 and a 200-day moving average price of $25.13. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 0.56 and a beta of 0.26. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares during the period. Geode Capital Management LLC boosted its stake in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after purchasing an additional 128,397 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock valued at $128,085,000 after acquiring an additional 284,106 shares in the last quarter. 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.