Coterra Energy (NYSE:CTRA) Given New $36.00 Price Target at Barclays

Coterra Energy (NYSE:CTRA) had its price objective lifted by Barclays from $33.00 to $36.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

CTRA has been the subject of a number of other reports. Citigroup upped their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Raymond James lifted 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. Stephens upped their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Mizuho boosted their price target 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. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $33.41.

Coterra Energy Stock Up 0.5 %

CTRA opened at $28.39 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.95. The stock’s 50 day moving average price is $26.54 and its 200 day moving average price is $25.15. The stock has a market cap 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.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data 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 for 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%. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Insider Activity

In related news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTRA. Algert Global LLC boosted its stake in Coterra Energy by 16.3% in the second quarter. Algert Global LLC now owns 14,625 shares of the company’s stock worth $390,000 after purchasing an additional 2,055 shares in the last quarter. Creative Planning lifted its position in shares of Coterra Energy by 6.7% during the second quarter. Creative Planning now owns 62,356 shares of the company’s stock worth $1,663,000 after purchasing an additional 3,926 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Coterra Energy by 198.8% during the second quarter. NewEdge Advisors LLC now owns 82,825 shares of the company’s stock valued at $2,209,000 after purchasing an additional 55,109 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Coterra Energy by 2.2% in the second quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock valued at $5,698,000 after purchasing an additional 4,555 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Coterra Energy during the 2nd quarter worth $3,420,000. Institutional investors and hedge funds 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.