Barclays Cuts Coterra Energy (NYSE:CTRA) Price Target to $35.00

Coterra Energy (NYSE:CTRA) had its price objective reduced by Barclays from $37.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 38.47% from the company’s current price.

CTRA has been the topic of a number of other research reports. Truist Financial upped their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Susquehanna cut their price objective on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group lowered their price objective on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $33.85.

Coterra Energy Stock Performance

Coterra Energy stock opened at $25.28 on Tuesday. The firm has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $26.41. Coterra Energy has a twelve month low of $22.30 and a twelve month 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 company has a market capitalization of $19.32 billion, a PE ratio of 15.23, a P/E/G ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the business posted $0.51 EPS. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. Research analysts expect that Coterra Energy will post 1.54 EPS for the current year.

Insider Buying and Selling

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was 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 this link. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC grew its position in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after purchasing an additional 555 shares during the last quarter. City State Bank bought a new position in Coterra Energy in the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. grew its position in shares of Coterra Energy by 463.5% during the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after purchasing an additional 737 shares in the last quarter. AdvisorNet Financial Inc increased its position in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during 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.