Susquehanna Increases Coterra Energy (NYSE:CTRA) Price Target to $32.00

Coterra Energy (NYSE:CTRA) had its price objective raised by stock analysts at Susquehanna from $30.00 to $32.00 in a report issued on Monday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 13.74% from the company’s current price.

A number of other research firms have also recently commented on CTRA. Raymond James raised their price target on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Truist Financial cut their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. UBS Group lifted their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Mizuho reissued a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Wednesday, April 3rd. Finally, Scotiabank boosted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Stock Up 0.7 %

NYSE CTRA opened at $28.14 on Monday. The stock’s 50-day moving average price is $26.86 and its 200-day moving average price is $26.41. The company has a market capitalization of $21.15 billion, a P/E ratio of 13.15 and a beta of 0.21. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. On average, equities research analysts predict that Coterra Energy will post 1.93 earnings per share for the current year.

Insider Activity

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. 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

Institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. bought a new position in Coterra Energy in the fourth quarter worth approximately $54,625,000. Schroder Investment Management Group increased its stake in shares of Coterra Energy by 21.7% during the third quarter. Schroder Investment Management Group now owns 7,187,516 shares of the company’s stock valued at $194,422,000 after buying an additional 1,281,094 shares during the period. Bridgewater Associates LP bought a new stake in shares of Coterra Energy in the fourth quarter valued at about $31,112,000. Dimensional Fund Advisors LP lifted its stake in Coterra Energy by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after acquiring an additional 848,519 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Coterra Energy by 60.4% in the 3rd quarter. AQR Capital Management LLC now owns 1,936,277 shares of the company’s stock valued at $52,376,000 after purchasing an additional 729,306 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.