Coterra Energy (NYSE:CTRA) Price Target Increased to $40.00 by Analysts at Citigroup

Coterra Energy (NYSE:CTRAGet Rating) had its price target upped by research analysts at Citigroup from $32.00 to $40.00 in a research note issued to investors on Monday, The Fly reports. Citigroup’s price target indicates a potential upside of 13.70% from the company’s previous close.

CTRA has been the topic of several other reports. Zacks Investment Research raised Coterra Energy from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Monday, May 2nd. Barclays raised their target price on Coterra Energy from $29.00 to $35.00 in a research report on Tuesday, April 19th. Raymond James raised their target price on Coterra Energy from $31.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, April 25th. Piper Sandler lowered their price objective on Coterra Energy to $34.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Finally, Truist Financial lifted their price objective on Coterra Energy from $29.00 to $41.00 in a research report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $33.93.

Shares of CTRA stock opened at $35.18 on Monday. The stock has a market capitalization of $28.35 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.16 and a beta of -0.22. The company has a current ratio of 1.57, a quick ratio of 1.54 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $30.29 and its 200 day moving average is $24.99. Coterra Energy has a 12-month low of $14.28 and a 12-month high of $36.45.

Coterra Energy (NYSE:CTRAGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.18. Coterra Energy had a return on equity of 24.79% and a net margin of 35.13%. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities analysts predict that Coterra Energy will post 4.06 earnings per share for the current year.

In other Coterra Energy news, insider Steven W. Lindeman sold 35,000 shares of Coterra Energy stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $27.07, for a total value of $947,450.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Francis Brian Barron sold 10,000 shares of Coterra Energy stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $25.20, for a total value of $252,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 125,000 shares of company stock worth $3,670,350 in the last three months. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CTRA. Vanguard Group Inc. purchased a new position in shares of Coterra Energy in the 1st quarter worth approximately $2,472,575,000. Capital World Investors purchased a new position in shares of Coterra Energy in the 1st quarter worth approximately $2,268,599,000. BlackRock Inc. purchased a new position in shares of Coterra Energy in the 1st quarter worth approximately $1,802,238,000. State Street Corp purchased a new position in shares of Coterra Energy in the 1st quarter worth approximately $1,493,855,000. Finally, Wellington Management Group LLP purchased a new position in shares of Coterra Energy in the 1st quarter worth approximately $1,000,797,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Company Profile (Get Rating)

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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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