Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Susquehanna

Coterra Energy (NYSE:CTRA) had its target price boosted by stock analysts at Susquehanna from $32.00 to $33.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 16.44% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research note on Tuesday, January 23rd. Truist Financial dropped their target price on Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Raymond James increased their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. UBS Group boosted their price objective on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.73.

Coterra Energy Price Performance

CTRA stock opened at $28.34 on Tuesday. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89. The firm has a market capitalization of $21.31 billion, a P/E ratio of 16.38 and a beta of 0.22. The company has a fifty day simple moving average of $27.35 and a two-hundred day simple moving average of $26.35. The company has a quick ratio of 1.18, a current ratio of 0.89 and a debt-to-equity ratio of 0.20.

Coterra Energy (NYSE:CTRA) last announced its earnings results 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). The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. Analysts anticipate that Coterra Energy will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its position in Coterra Energy by 18.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 218,119 shares of the company’s stock worth $5,900,000 after purchasing an additional 34,479 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Coterra Energy by 29.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 178,109 shares of the company’s stock worth $4,818,000 after buying an additional 40,446 shares in the last quarter. Brown Advisory Inc. grew its position in Coterra Energy by 34.0% during the third quarter. Brown Advisory Inc. now owns 14,845 shares of the company’s stock valued at $402,000 after buying an additional 3,769 shares during the period. Mackenzie Financial Corp increased its holdings in Coterra Energy by 1.7% in the third quarter. Mackenzie Financial Corp now owns 75,270 shares of the company’s stock valued at $1,983,000 after buying an additional 1,274 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Coterra Energy by 7.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 760,821 shares of the company’s stock worth $20,580,000 after acquiring an additional 54,316 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other 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.