Coterra Energy (NYSE:CTRA) Given New $32.00 Price Target at Citigroup

Coterra Energy (NYSE:CTRA) had its target price hoisted by analysts at Citigroup from $28.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 19.54% from the company’s previous close.

Several other equities analysts also recently weighed in on CTRA. Mizuho raised their price target on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays boosted their price target on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Susquehanna upped their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley increased their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.47.

Coterra Energy Stock Down 0.8 %

Shares of NYSE CTRA traded down $0.22 during mid-day trading on Tuesday, hitting $26.77. 647,285 shares of the stock traded hands, compared to its average volume of 6,238,335. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.80 and a beta of 0.22. The stock has a fifty day moving average price of $24.44 and a 200-day moving average price of $25.40. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Insider Buying and Selling

In other Coterra Energy news, 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 value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of large investors have recently modified their holdings of CTRA. Fortitude Family Office LLC lifted its holdings in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC raised its holdings in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy during the third quarter valued at about $57,000. Tobam bought a new stake in shares of Coterra Energy in the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Coterra Energy by 31.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.