Coterra Energy (NYSE:CTRA) Price Target Lowered to $33.00 at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) had its target price decreased by research analysts at JPMorgan Chase & Co. from $36.00 to $33.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.32% from the company’s current price.

Several other research analysts have also recently commented on the stock. UBS Group upped their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Susquehanna upped their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Barclays upped their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Mizuho upped their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, Piper Sandler upped their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

Coterra Energy Price Performance

NYSE CTRA opened at $27.66 on Thursday. 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 stock has a market cap of $21.13 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a 50-day moving average price of $27.75 and a two-hundred day moving average price of $25.66.

Insider Activity at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company’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 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. This represents a 21.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently made changes to their positions in CTRA. Assetmark Inc. lifted its position in shares of Coterra Energy by 11.7% in the 3rd quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock valued at $2,248,000 after acquiring an additional 9,840 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its stake in Coterra Energy by 4.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company’s stock valued at $426,000 after buying an additional 724 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Coterra Energy by 2.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company’s stock valued at $39,538,000 after buying an additional 40,569 shares during the period. Aigen Investment Management LP acquired a new position in Coterra Energy in the 3rd quarter valued at approximately $376,000. Finally, Hourglass Capital LLC increased its stake in Coterra Energy by 58.0% in the 3rd quarter. Hourglass Capital LLC now owns 16,350 shares of the company’s stock valued at $392,000 after buying an additional 6,000 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.