Coterra Energy (NYSE:CTRA) Upgraded by Citigroup to “Buy”
Coterra Energy (NYSE:CTRA – Get Free Report) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, Benzinga reports. The firm presently has a $30.00 price objective on the stock, up from their previous price objective of $28.00. Citigroup’s price target would suggest a potential upside of 22.20% from the company’s previous close.
Several other research analysts also recently issued reports on CTRA. Bank of America boosted their price objective on shares of Coterra Energy from $32.00 to $34.00 in a report on Wednesday, September 27th. Stifel Nicolaus lifted their price objective on Coterra Energy from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Morgan Stanley increased their target price on Coterra Energy from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 18th. Piper Sandler raised Coterra Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $35.00 in a report on Monday, August 14th. Finally, Truist Financial increased their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.13.
Get Our Latest Analysis on CTRA
Coterra Energy Stock Down 0.6 %
Shares of Coterra Energy stock opened at $24.55 on Monday. Coterra Energy has a 12-month low of $22.25 and a 12-month high of $29.89. The stock has a 50 day moving average price of $27.17 and a two-hundred day moving average price of $26.67. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $18.47 billion, a P/E ratio of 8.44, a PEG ratio of 0.19 and a beta of 0.30.
Coterra Energy (NYSE:CTRA – Get Free Report) last released its earnings results on Monday, November 6th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Coterra Energy had a net margin of 33.97% and a return on equity of 17.14%. Equities analysts expect that Coterra Energy will post 2.31 earnings per share for the current year.
Insider Buying and Selling at Coterra Energy
In related news, Director Dan O. Dinges sold 68,275 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $27.22, for a total value of $1,858,445.50. Following the sale, the director now directly owns 3,152,392 shares in the company, valued at approximately $85,808,110.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Dan O. Dinges sold 68,275 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $27.22, for a total value of $1,858,445.50. Following the completion of the sale, the director now owns 3,152,392 shares in the company, valued at approximately $85,808,110.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dan O. Dinges sold 400,000 shares of Coterra Energy stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $26.60, for a total value of $10,640,000.00. Following the transaction, the director now owns 3,302,392 shares in the company, valued at $87,843,627.20. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Hedge Funds Weigh In On Coterra Energy
Several institutional investors and hedge funds have recently modified their holdings of the business. VisionPoint Advisory Group LLC raised its holdings in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after acquiring an additional 740 shares during the period. American Century Companies Inc. raised its stake in shares of Coterra Energy by 54.8% in the 3rd quarter. American Century Companies Inc. now owns 753,719 shares of the company’s stock valued at $20,388,000 after purchasing an additional 266,700 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Coterra Energy by 1.9% in the third quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock valued at $712,000 after purchasing an additional 503 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Coterra Energy by 12.1% during the third quarter. Public Sector Pension Investment Board now owns 176,843 shares of the company’s stock worth $4,784,000 after buying an additional 19,143 shares during the period. Finally, Comerica Bank grew its holdings in shares of Coterra Energy by 42.6% during the third quarter. Comerica Bank now owns 225,238 shares of the company’s stock worth $6,093,000 after buying an additional 67,341 shares in the last quarter. 90.54% of the stock is currently owned by institutional investors and hedge funds.
Coterra Energy Company Profile (Get Free Report)
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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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Original: MarketBeat News Feed: Coterra Energy (NYSE:CTRA) Upgraded by Citigroup to “Buy”