Morgan Stanley Lowers Coterra Energy (NYSE:CTRA) Price Target to $26.00

Coterra Energy (NYSE:CTRAGet Free Report) had its price target dropped by investment analysts at Morgan Stanley from $27.00 to $26.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 6.74% from the company’s current price.

Several other analysts have also commented on CTRA. Bank of America upgraded Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Friday, January 5th. Susquehanna upgraded Coterra Energy from a “neutral” rating to a “positive” rating and reduced their target price for the stock from $31.00 to $30.00 in a research note on Friday, January 26th. UBS Group raised their target price on Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Wells Fargo & Company upgraded Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Thursday, December 14th. Finally, Mizuho reduced their target price on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.77.

Read Our Latest Stock Report on CTRA

Coterra Energy Trading Up 0.1 %

CTRA opened at $27.88 on Thursday. Coterra Energy has a one year low of $22.91 and a one year high of $29.89. The stock has a market cap of $20.96 billion, a price-to-earnings ratio of 13.03 and a beta of 0.20. The stock’s 50 day moving average price is $25.77 and its 200-day moving average price is $26.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy (NYSE:CTRAGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, equities analysts forecast that Coterra Energy will post 1.98 EPS for the current year.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Coterra Energy in the first quarter valued at about $2,472,575,000. State Street Corp purchased a new stake in shares of Coterra Energy in the first quarter valued at about $1,493,855,000. Geode Capital Management LLC raised its holdings in shares of Coterra Energy by 5.7% in the first quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock valued at $454,088,000 after buying an additional 1,000,620 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Coterra Energy by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock valued at $434,980,000 after buying an additional 235,636 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Coterra Energy by 3.5% in the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock valued at $431,329,000 after buying an additional 544,768 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Company Profile

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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.

Further Reading

Analyst Recommendations for Coterra Energy (NYSE:CTRA)

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