UBS Group Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its price target raised by equities researchers at UBS Group from $35.00 to $37.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 35.35% from the company’s previous close.

CTRA has been the subject of several other research reports. Citigroup raised their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial raised their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James upped their price target on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Stephens lifted their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.42.

Coterra Energy Stock Down 0.8 %

Shares of NYSE:CTRA opened at $27.34 on Thursday. The firm has a market capitalization of $20.14 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.56 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a 50 day moving average price of $26.77 and a 200-day moving average price of $25.23. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Coterra Energy

Several large investors have recently modified their holdings of CTRA. Aster Capital Management DIFC Ltd lifted its stake in Coterra Energy by 175.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 21,194 shares of the company’s stock worth $541,000 after purchasing an additional 13,507 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Coterra Energy by 16.0% in the fourth quarter. Russell Investments Group Ltd. now owns 1,024,501 shares of the company’s stock worth $26,166,000 after buying an additional 141,491 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after acquiring an additional 2,600,801 shares during the last quarter. Oarsman Capital Inc. boosted its holdings in Coterra Energy by 6.6% during the 4th quarter. Oarsman Capital Inc. now owns 32,834 shares of the company’s stock valued at $839,000 after acquiring an additional 2,037 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new position in Coterra Energy in the 4th quarter valued at $5,454,000. 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.