Coterra Energy (NYSE:CTRA) Given New $37.00 Price Target at The Goldman Sachs Group

Coterra Energy (NYSE:CTRA) had its price target hoisted by The Goldman Sachs Group from $33.00 to $37.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on CTRA. UBS Group boosted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Mizuho boosted their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Piper Sandler boosted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Citigroup boosted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.32.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.55 on Wednesday. The company’s fifty day moving average is $26.77 and its two-hundred day moving average is $25.23. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $29.95. The company has a market cap of $20.29 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26.

Insider Buying and Selling

In other Coterra Energy news, 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 $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at $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. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds have recently bought and sold shares of the company. City State Bank acquired a new position in shares of Coterra Energy during the fourth quarter valued at about $26,000. AdvisorNet Financial Inc raised its position in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC raised its position in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in shares of Coterra Energy during the fourth quarter valued at about $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy during the fourth quarter valued at about $43,000. 87.92% of the stock is currently 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.