Coterra Energy (NYSE:CTRA) Given New $32.00 Price Target at UBS Group

Coterra Energy (NYSE:CTRA) had its target price decreased by equities researchers at UBS Group from $33.00 to $32.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 22.91% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Williams Trading set a $37.00 price target on Coterra Energy in a report on Wednesday, March 5th. Piper Sandler lifted their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Barclays upped their target price on Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Three equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.05.

Coterra Energy Trading Up 1.6 %

Shares of CTRA traded up $0.41 during mid-day trading on Thursday, reaching $26.04. 2,633,309 shares of the company were exchanged, compared to its average volume of 6,196,180. The business has a 50 day simple moving average of $27.24 and a two-hundred day simple moving average of $26.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market capitalization of $19.89 billion, a PE ratio of 15.70, a PEG ratio of 0.59 and a beta of 0.47. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the company’s 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy 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 in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds have recently modified their holdings of the stock. Czech National Bank raised its stake in shares of Coterra Energy by 6.1% in the fourth quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after buying an additional 9,115 shares during the period. Bourgeon Capital Management LLC boosted its position in Coterra Energy by 107.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after purchasing an additional 122,487 shares during the period. M.E. Allison & CO. Inc. purchased a new stake in shares of Coterra Energy during the 4th quarter valued at approximately $217,000. Barclays PLC boosted its holdings in Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock worth $51,425,000 after buying an additional 64,753 shares during the period. Finally, Range Financial Group LLC bought a new stake in Coterra Energy during the 4th quarter valued at $1,267,000. 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.