Coterra Energy (NYSE:CTRA) Price Target Lowered to $26.00 at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price target dropped by stock analysts at Morgan Stanley from $27.00 to $26.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 6.78% from the company’s previous close.

A number of other research analysts also recently weighed in on CTRA. Citigroup raised Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $30.00 in a research note on Monday, December 11th. Wells Fargo & Company raised Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Thursday, December 14th. Mizuho cut their price target on Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Susquehanna raised Coterra Energy from a “neutral” rating to a “positive” rating and cut their price target for the company from $31.00 to $30.00 in a research note on Friday, January 26th. Finally, UBS Group increased their price target on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.77.

Coterra Energy Trading Up 0.1 %

Shares of Coterra Energy stock traded up $0.03 on Thursday, reaching $27.89. 3,414,535 shares of the company were exchanged, compared to its average volume of 7,036,697. The stock has a fifty day moving average price of $25.64 and a 200-day moving average price of $26.31. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 13.05 and a beta of 0.20. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two 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 analysts’ consensus estimates of $0.55 by ($0.06). The business 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, analysts expect that Coterra Energy will post 1.98 EPS for the current year.

Insider Activity

In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’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 sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CTRA. Vanguard Group Inc. acquired a new position in Coterra Energy during the first quarter valued at approximately $2,472,575,000. State Street Corp bought a new stake in shares of Coterra Energy during the first quarter worth $1,493,855,000. Geode Capital Management LLC grew its stake in shares of Coterra Energy by 5.7% during the first quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock worth $454,088,000 after buying an additional 1,000,620 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Coterra Energy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock worth $434,980,000 after buying an additional 235,636 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Coterra Energy by 3.5% in the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after purchasing an additional 544,768 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.