Coterra Energy (NYSE:CTRA) Price Target Raised to $37.00 at The Goldman Sachs Group

Coterra Energy (NYSE:CTRA) had its target price boosted by equities researchers at The Goldman Sachs Group from $33.00 to $37.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 30.48% from the company’s current price.

Several other analysts have also commented on CTRA. Citigroup lifted their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. UBS Group increased their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Piper Sandler boosted their target price on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Mizuho upped their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Truist Financial upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.32.

Coterra Energy Stock Down 0.6 %

Shares of NYSE:CTRA traded down $0.18 on Wednesday, hitting $28.36. 810,658 shares of the company traded hands, compared to its average volume of 6,057,640. The company has a market cap of $20.89 billion, a PE ratio of 17.06, a PEG ratio of 0.56 and a beta of 0.26. The stock has a 50 day simple moving average of $26.69 and a 200-day simple moving average of $25.19. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CTRA. City State Bank purchased a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its holdings in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC increased its stake in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares during the period. R Squared Ltd purchased a new position in shares of Coterra Energy during the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy in the fourth quarter valued at $43,000. 87.92% of the stock is currently 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.