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

Coterra Energy (NYSE:CTRA - Free Report) had its target price increased by Barclays from $33.00 to $36.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

CTRA has been the topic of several other reports. Raymond James upped their price target on Coterra Energy from $35.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Mizuho increased their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th. Stephens upped their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Scotiabank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.41.

Coterra Energy Stock Performance

Coterra Energy stock traded up $0.31 during mid-day trading on Thursday, reaching $28.03. 5,835,760 shares of the company's stock were exchanged, compared to its average volume of 6,717,270. The business's fifty day simple moving average is $26.56 and its 200 day simple moving average is $25.13. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a one year low of $22.30 and a one year high of $29.95. The firm has a market capitalization of $20.65 billion, a PE ratio of 16.89, a P/E/G ratio of 0.56 and a beta of 0.27.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. On average, sell-side analysts expect that Coterra Energy will post 1.53 earnings per share for the current year.

Insider Transactions at Coterra Energy

In other Coterra Energy news, 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 transaction of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the company'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 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 position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. City State Bank acquired a new stake in shares of Coterra Energy during the fourth quarter worth $26,000. AdvisorNet Financial Inc grew its position in Coterra Energy by 192.2% during the fourth 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 holdings in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock valued at $32,000 after acquiring an additional 869 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Deseret Mutual Benefit Administrators increased its position in Coterra Energy by 33.2% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,722 shares of the company's stock worth $44,000 after buying an additional 429 shares in the last quarter. 87.92% of the stock is 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.