Coterra Energy (NYSE:CTRA) Given New $37.00 Price Target at The Goldman Sachs Group

Coterra Energy (NYSE:CTRA - Free Report) had its price objective boosted by The Goldman Sachs Group from $33.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts have also recently weighed in on CTRA. Truist Financial upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Stephens raised their price target 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. Mizuho upped their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Susquehanna boosted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a "positive" rating in a research report on Thursday, November 14th. Finally, Raymond James lifted their price objective on Coterra Energy from $35.00 to $41.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.42.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $0.05 during midday trading on Wednesday, reaching $27.55. 4,548,022 shares of the company traded hands, compared to its average volume of 6,336,359. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.95. 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's 50-day simple moving average is $26.87 and its 200-day simple moving average is $25.25. The firm has a market cap of $20.29 billion, a PE ratio of 16.59, a PEG ratio of 0.56 and a beta of 0.26.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy 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 completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares of the company's stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently modified their holdings of CTRA. Mercer Global Advisors Inc. ADV lifted its stake in shares of Coterra Energy by 3.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 33,489 shares of the company's stock valued at $855,000 after acquiring an additional 1,061 shares during the last quarter. Keel Point LLC bought a new position in shares of Coterra Energy in the 4th quarter worth about $210,000. Freestone Grove Partners LP purchased a new position in shares of Coterra Energy during the fourth quarter valued at approximately $4,681,000. Comerica Bank boosted its holdings in Coterra Energy by 3.1% in the fourth quarter. Comerica Bank now owns 130,540 shares of the company's stock worth $3,334,000 after acquiring an additional 3,888 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Coterra Energy during the 4th quarter valued at about $268,000. 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.