Wells Fargo & Company Cuts Coterra Energy (NYSE:CTRA) Price Target to $31.00

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target decreased by research analysts at Wells Fargo & Company from $33.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 18.09% from the stock's previous close.

A number of other analysts also recently commented on the stock. Piper Sandler cut their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Barclays lowered their price objective on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Scotiabank decreased their price target on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley set a $28.00 price target on Coterra Energy in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and an average price target of $33.25.

Coterra Energy Stock Performance

CTRA stock traded down $0.45 during trading on Monday, hitting $26.25. 1,927,678 shares of the company traded hands, compared to its average volume of 6,452,210. The stock's 50-day simple moving average is $24.99 and its 200 day simple moving average is $26.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a market cap of $20.04 billion, a PE ratio of 15.81, a P/E/G ratio of 0.59 and a beta of 0.34. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company's revenue was up 32.9% compared to the same quarter last year. On average, equities analysts expect that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC grew its holdings in Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after buying an additional 555 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after buying an additional 737 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Coterra Energy in the 1st quarter worth approximately $29,000. Wayfinding Financial LLC bought a new position in Coterra Energy in the 1st quarter worth approximately $34,000. Finally, Investors Research Corp grew its holdings in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after buying an additional 408 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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.

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