Barclays Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target boosted by Barclays from $33.00 to $36.00 in a research report released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on CTRA. Piper Sandler lifted their price objective on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday. Susquehanna upped their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Citigroup lifted their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stephens upped their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, UBS Group raised their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.41.

Coterra Energy Stock Performance

Shares of CTRA opened at $28.39 on Thursday. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market capitalization of $20.91 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.58 and a beta of 0.27. 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 company’s fifty day moving average is $26.54 and its two-hundred day moving average is $25.15.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.47 EPS. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Insider Activity at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the company’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several large investors have recently modified their holdings of CTRA. Hourglass Capital LLC boosted its holdings in Coterra Energy by 183.5% in the fourth quarter. Hourglass Capital LLC now owns 46,350 shares of the company’s stock worth $1,184,000 after purchasing an additional 30,000 shares during the period. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Coterra Energy during the 4th quarter valued at about $216,000. Allworth Financial LP raised its stake in Coterra Energy by 3.9% during the fourth quarter. Allworth Financial LP now owns 18,409 shares of the company’s stock worth $470,000 after acquiring an additional 689 shares during the period. Principal Securities Inc. raised its stake in Coterra Energy by 24.7% during the fourth quarter. Principal Securities Inc. now owns 24,252 shares of the company’s stock worth $619,000 after acquiring an additional 4,808 shares during the period. Finally, Everhart Financial Group Inc. bought a new position in Coterra Energy in the fourth quarter worth about $212,000. 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.