Scotiabank Has Lowered Expectations for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price decreased by Scotiabank from $38.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 31.31% from the stock’s current price.

CTRA has been the topic of a number of other research reports. UBS Group reduced their price target on Coterra Energy from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group upped their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Raymond James cut their price objective on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their target price for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Finally, Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Coterra Energy Price Performance

Shares of CTRA opened at $25.13 on Friday. The company has a market cap of $19.20 billion, a P/E ratio of 15.14, a PEG ratio of 0.59 and a beta of 0.47. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average price is $27.38 and its 200 day moving average price is $26.27.

Insiders Place Their Bets

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The stock was 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 of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CTRA. Wellington Management Group LLP raised its holdings in shares of Coterra Energy by 1.9% in the fourth quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock worth $1,852,385,000 after acquiring an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after purchasing an additional 1,310,965 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after purchasing an additional 96,059 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after purchasing an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Coterra Energy by 9.0% during the fourth quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after buying an additional 1,011,166 shares in the last quarter. Hedge funds and other 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.