UBS Group Issues Pessimistic Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target cut by equities research analysts at UBS Group from $37.00 to $33.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 32.32% from the company’s previous close.

Several other equities research analysts also recently commented on CTRA. Truist Financial increased their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler raised their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Finally, Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and lifted their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.15.

Coterra Energy Stock Performance

Shares of CTRA stock traded down $0.18 during trading hours on Monday, hitting $24.94. 6,602,294 shares of the company were exchanged, compared to its average volume of 6,154,861. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $27.78 and a 200 day simple moving average of $26.23. The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.59 and a beta of 0.47.

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 shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in shares of Coterra Energy by 1.9% during the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after acquiring an additional 1,318,754 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after purchasing an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC grew its position in Coterra Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock worth $486,528,000 after purchasing an additional 96,059 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after buying an additional 845,609 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after buying an additional 1,011,166 shares during the last quarter. 87.92% of the stock is currently 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.