Coterra Energy (NYSE:CTRA) Price Target Cut to $33.00 by Analysts at UBS Group

Coterra Energy (NYSE:CTRA) had its target price lowered by equities researchers at UBS Group from $37.00 to $33.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 32.32% from the company’s current price.

Several other brokerages have also issued reports on CTRA. Morgan Stanley decreased their price target on shares of Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research note on Wednesday, March 5th. Raymond James dropped their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.15.

Coterra Energy Price Performance

CTRA traded down $0.18 during trading on Monday, hitting $24.94. 6,602,294 shares of the stock traded hands, compared to its average volume of 6,154,861. The business has a 50 day moving average price of $27.78 and a 200 day moving average price of $26.23. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.59 and a beta of 0.47. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was 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 owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTRA. Sterling Capital Management LLC lifted its stake in Coterra Energy by 5,744.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock valued at $93,520,000 after acquiring an additional 3,599,042 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Coterra Energy by 117.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock valued at $123,036,000 after purchasing an additional 2,600,801 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Coterra Energy during the fourth quarter worth about $61,461,000. Zurich Insurance Group Ltd FI bought a new stake in Coterra Energy in the 4th quarter worth about $57,877,000. Finally, Man Group plc increased its stake in Coterra Energy by 81.4% in the 4th quarter. Man Group plc now owns 4,842,621 shares of the company’s stock valued at $123,681,000 after buying an additional 2,172,931 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.