Truist Financial Increases Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its price objective lifted by research analysts at Truist Financial from $33.00 to $37.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 28.07% from the stock’s current price.

CTRA has been the subject of a number of other research reports. Piper Sandler lowered their price target on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Barclays boosted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Mizuho raised their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, UBS Group lifted their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Two 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.76.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $28.89 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market cap of $21.28 billion, a PE ratio of 17.40, a PEG ratio of 1.64 and a beta of 0.27. The company’s fifty day moving average is $25.75 and its 200 day moving average is $24.95. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.17.

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

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s 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 sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This represents 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 insiders.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently made changes to their positions in CTRA. Wellington Management Group LLP boosted its holdings in shares of Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Holocene Advisors LP raised its position in Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares during the period. Bank of Montreal Can boosted its stake in shares of Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of Coterra Energy during the 3rd quarter valued at $28,380,000. Finally, Marshall Wace LLP increased its stake in shares of Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after purchasing an additional 1,127,399 shares in the last quarter. 87.92% of the stock is currently owned by 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.