The Goldman Sachs Group Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its price target raised by stock analysts at The Goldman Sachs Group from $33.00 to $37.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 34.02% from the stock’s previous close.

Several other analysts also recently issued reports on CTRA. Piper Sandler lifted their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Truist Financial lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Susquehanna lifted their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $33.42.

Coterra Energy Stock Performance

CTRA opened at $27.61 on Wednesday. The business’s 50-day moving average price is $26.77 and its two-hundred day moving average price is $25.23. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a market capitalization of $20.34 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.56 and a beta of 0.26. 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 Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. City State Bank acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its position in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC raised its position in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $43,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.