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

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

Several other research analysts have also recently commented on the company. Raymond James boosted their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. UBS Group increased their target price on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Wells Fargo & Company upgraded Coterra Energy from an “equal weight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Thursday, December 14th. Bank of America upgraded Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a report on Friday, January 5th. Finally, Piper Sandler increased their price objective on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.77.

Coterra Energy Price Performance

Coterra Energy stock traded up $0.03 during mid-day trading on Thursday, hitting $27.89. 3,414,535 shares of the company were exchanged, compared to its average volume of 7,036,697. The business’s 50 day simple moving average is $25.64 and its two-hundred day simple moving average is $26.31. Coterra Energy has a 12-month low of $22.91 and a 12-month high of $29.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The company has a market capitalization of $20.97 billion, a P/E ratio of 13.05 and a beta of 0.20.

Coterra Energy (NYSE:CTRA) last issued its 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). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Analysts forecast that Coterra Energy will post 1.98 earnings per share for the current fiscal year.

Insider Activity

In other Coterra Energy news, 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 sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 transaction, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quent Capital LLC lifted its holdings in shares of Coterra Energy by 7.4% during the 3rd quarter. Quent Capital LLC now owns 5,441 shares of the company’s stock worth $147,000 after acquiring an additional 375 shares during the period. Beacon Investment Advisors LLC lifted its holdings in shares of Coterra Energy by 0.7% during the 3rd quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after acquiring an additional 422 shares during the period. Stone House Investment Management LLC lifted its holdings in shares of Coterra Energy by 32.4% during the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after acquiring an additional 438 shares during the period. SouthState Corp lifted its holdings in shares of Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after acquiring an additional 454 shares during the period. Finally, Echo Street Capital Management LLC lifted its holdings in shares of Coterra Energy by 5.5% during the 4th quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock worth $223,000 after acquiring an additional 477 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.