Morgan Stanley Issues Pessimistic Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price lowered by Morgan Stanley from $32.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 5.02% from the company’s previous close.

Other research analysts have also issued research reports about the company. Mizuho raised their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. UBS Group raised their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group boosted their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group increased their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price target for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three 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 currently has an average rating of “Moderate Buy” and an average price target of $34.35.

Coterra Energy Stock Down 1.1 %

CTRA stock traded down $0.31 during midday trading on Thursday, hitting $28.57. The stock had a trading volume of 1,519,400 shares, compared to its average volume of 5,864,972. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.59 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. The business has a 50-day moving average of $27.96 and a two-hundred day moving average of $25.95.

Insider Activity at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $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 owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Sterling Capital Management LLC grew its stake in Coterra Energy by 5,744.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after buying an additional 3,599,042 shares during the last quarter. Holocene Advisors LP lifted its stake in Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after buying an additional 2,954,675 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Coterra Energy by 117.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock valued at $123,036,000 after purchasing an additional 2,600,801 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Coterra Energy during the fourth quarter worth about $61,461,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.