Morgan Stanley Reduces Price Target for Coterra Energy Stock

Coterra Energy (NYSE:CTRA) recently received a downgraded price target from Morgan Stanley, which lowered its estimate from $32.00 to $30.00. In a research report published on Thursday, the firm maintained an "equal weight" rating on the stock. This new price target suggests a potential upside of 5.02% from Coterra's previous closing price.

Investment analysts have varied opinions regarding Coterra Energy's stock. Recently, Mizuho increased its price target from $37.00 to $40.00, assigning an "outperform" rating. Meanwhile, UBS Group raised its target for the stock from $35.00 to $37.00, giving it a "buy" rating.

Similarly, Jefferies Financial Group also lifted its target for Coterra Energy from $26.00 to $28.00, rating it as "hold." Goldman Sachs Group set a new target of $37.00 from a prior $33.00 and issued a "buy" rating. Johnson Rice also upgraded Coterra Energy from a "hold" to an "accumulate" rating, raising the target price from $34.00 to $37.00.

At present, three analysts have assigned a hold rating to the stock, seventeen have issued buy ratings, and one analyst has designated it as a strong buy. According to data from MarketBeat.com, Coterra currently holds an overall average rating of "Moderate Buy" alongside an average price target of $34.35.

Coterra Energy Stock Performance

On Thursday, Coterra Energy's stock experienced a drop of 1.1%, trading down $0.31 to reach $28.57 during midday trading. Trading volume stood at approximately 1,519,400 shares, below its typical volume of 5,864,972. For context, Coterra Energy's stock has recorded a 52-week low of $22.30 and a high of $29.95, with a market capitalization of $21.83 billion. Other financial metrics include a price-to-earnings ratio of 17.23 and a price-to-earnings growth ratio of 0.59. The company has a debt-to-equity ratio of 0.16, with current and quick ratios of 1.61 and 1.56, respectively. Presently, Coterra's 50-day moving average rests at $27.96, while its 200-day moving average is $25.95.

Insider Transactions

In related news, Kevin William Smith, a senior vice president at Coterra Energy, sold 25,733 shares on March 19 for an average price of $29.09, totaling approximately $748,572.97. After this transaction, Smith holds around 106,114 shares valued at around $3,086,856.26, marking a decrease of 19.52% in his ownership.

On March 10, another senior VP, Michael D. Deshazer, sold 35,377 shares at an average price of $26.62, yielding a total of approximately $941,735.74. Following this, he now owns 126,770 shares valued at about $3,374,617.40, which reflects a 21.82% decline in his ownership. Currently, corporate insiders possess about 1.70% of Coterra's stock.

Institutional Investor Activity

Changes among institutional investors and hedge funds are also noteworthy. Wellington Management Group LLP increased its stake in Coterra Energy by 28.4% during the 3rd quarter, now holding 71,210,013 shares valued at approximately $1.7 billion after acquiring an additional 15,736,247 shares.

Sterling Capital Management LLC saw a massive increase in its stake by 5,744.3% in the 4th quarter, now owning 3,661,696 shares valued at around $93.52 million following an additional purchase of 3,599,042 shares.

Holocene Advisors LP raised its stake by 187.2% in the 3rd quarter, now holding 4,533,269 shares worth about $108.57 million after buying 2,954,675 shares. Additionally, Envestnet Asset Management Inc. increased its position by 117.3% in the 4th quarter, owning 4,817,375 shares valued at roughly $123.36 million after purchasing 2,600,801 shares.

Currently, 87.92% of Coterra's stock is held by hedge funds and other institutional investors.

Coterra Energy Overview

Coterra Energy Inc. is an independent oil and gas company engaged in the development, exploration, and production of oil, natural gas, and liquids throughout the United States. The firm's properties include significant assets in the Marcellus Shale, Permian Basin, and Anadarko Basin, showcasing its comprehensive footprint in key oil and gas regions.

Coterra, Energy, Stock