Coterra Energy (NYSE:CTRA) Price Target Increased to $32.00 by Analysts at Susquehanna

Coterra Energy (NYSE:CTRA) had its target price raised by analysts at Susquehanna from $30.00 to $32.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 15.32% from the stock’s current price.

Several other brokerages have also issued reports on CTRA. Stephens reiterated an “overweight” rating and set a $39.00 target price on shares of Coterra Energy in a research report on Tuesday, January 23rd. Truist Financial dropped their target price on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Scotiabank lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Piper Sandler lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $32.47.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.75 on Monday. The company has a 50 day moving average of $26.71 and a 200 day moving average of $26.39. The stock has a market cap of $20.86 billion, a P/E ratio of 12.97 and a beta of 0.21. Coterra Energy has a 12 month low of $22.91 and a 12 month high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, sell-side analysts forecast that Coterra Energy will post 1.93 EPS for the current fiscal year.

Insider Activity at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the company’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 in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coterra Energy news, 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 transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Coterra Energy in the 1st quarter worth about $1,267,000. D.A. Davidson & CO. purchased a new stake in shares of Coterra Energy in the 1st quarter worth about $305,000. Yousif Capital Management LLC purchased a new stake in shares of Coterra Energy in the 1st quarter worth about $3,011,000. Raymond James Trust N.A. bought a new position in Coterra Energy in the 1st quarter worth about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Coterra Energy in the 1st quarter worth about $3,218,000. 87.92% of the stock is owned by hedge funds and other 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.