Wells Fargo & Company Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA - Get Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $35.00 to $36.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 41.90% from the company's current price.

Other analysts have also issued reports about the stock. Scotiabank reduced their price target on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, March 6th. Morgan Stanley set a $28.00 target price on Coterra Energy in a report on Tuesday, April 15th. Finally, Raymond James cut their price target on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.00.

Coterra Energy Stock Performance

Shares of CTRA traded down $0.09 during trading hours on Monday, reaching $25.37. 3,411,100 shares of the company's stock traded hands, compared to its average volume of 6,199,965. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. The business's fifty day simple moving average is $26.90 and its two-hundred day simple moving average is $26.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 0.59 and a beta of 0.47.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Saxon Interests Inc. boosted its holdings in shares of Coterra Energy by 5.1% during the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock worth $269,000 after buying an additional 451 shares during the period. DSG Capital Advisors LLC grew its position in shares of Coterra Energy by 470.3% in the first quarter. DSG Capital Advisors LLC now owns 71,920 shares of the company's stock valued at $2,078,000 after purchasing an additional 59,310 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Coterra Energy by 0.7% in the first quarter. New York State Teachers Retirement System now owns 861,301 shares of the company's stock worth $24,892,000 after purchasing an additional 5,610 shares during the period. Amalgamated Bank increased its stake in shares of Coterra Energy by 1.6% in the first quarter. Amalgamated Bank now owns 143,289 shares of the company's stock worth $4,141,000 after purchasing an additional 2,191 shares during the period. Finally, Verity Asset Management Inc. lifted its position in shares of Coterra Energy by 8.4% during the 1st quarter. Verity Asset Management Inc. now owns 56,634 shares of the company's stock worth $1,637,000 after purchasing an additional 4,368 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

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.