Morgan Stanley Lowers Coterra Energy Stock Price Target

Coterra Energy (NYSE:CTRA) has recently experienced a downgrade in its target stock price by Morgan Stanley, which has reduced the price objective from $32.00 to $30.00. This was disclosed in a research report released on Thursday. The firm has maintained an "equal weight" rating for the stock, suggesting a neutral stance on its future performance. According to Morgan Stanley's updated target, there is a potential upside of 5.02% based on the company's previous closing price.

Analyst Updates on Coterra Energy

In addition to Morgan Stanley's report, other research analysts have made notable changes to their outlook on Coterra Energy. For instance, Mizuho raised their price objective from $37.00 to $40.00, giving the company an "outperform" rating. Similarly, UBS Group increased their target from $35.00 to $37.00 and assigned a "buy" rating in a recent note. Jefferies Financial Group also adjusted their price target, lifting it from $26.00 to $28.00, while maintaining a "hold" rating. The Goldman Sachs Group increased its target from $33.00 to $37.00, issuing a "buy" rating as well. Additionally, Johnson Rice upgraded Coterra Energy from a "hold" to an "accumulate" rating and raised their price target from $34.00 to $37.00. In total, three analysts have rated the stock as a hold, while seventeen analysts issued buy ratings, and one analyst provided a strong buy rating. MarketBeat.com indicates that Coterra Energy has a current average rating of "Moderate Buy" with an average price target of $34.35.

Current Stock Performance

As of midday trading on Thursday, Coterra Energy's stock had fallen by 1.1%, trading down $0.31 to reach $28.57. The trading volume was 1,519,400 shares, which is below the average volume of 5,864,972 shares. Over the past year, the stock has seen a low of $22.30 and a high of $29.95, currently holding a market capitalization of $21.83 billion. The stock has a price-to-earnings ratio of 17.23 and a price-to-earnings-growth ratio of 0.59, with a beta of 0.26. Its debt-to-equity ratio stands at 0.16, alongside a current ratio of 1.61 and a quick ratio of 1.56. The stock’s 50-day moving average is $27.96, and its 200-day moving average is $25.95.

Insider Trading Activity

In the realm of insider trading at Coterra Energy, senior vice president Kevin William Smith sold 25,733 shares of the company's stock on March 19 for approximately $748,572.97 at an average price of $29.09. Following this transaction, Smith holds 106,114 shares valued at about $3,086,856.26, marking a 19.52% decrease in his ownership. The transaction details were filed with the SEC. Additionally, on March 10, SVP Michael D. Deshazer sold 35,377 shares at an average price of $26.62, totaling around $941,735.74. Deshazer now owns 126,770 shares valued at roughly $3,374,617.40, reflecting a 21.82% decline in ownership. Insiders currently own about 1.70% of the stock.

Institutional Investment Trends

In recent months, institutional investors have also adjusted their stakes in Coterra Energy. For example, Wellington Management Group LLP increased its holdings by 28.4% in the last quarter, now owning 71,210,013 shares valued at $1,705,480,000 after acquiring an additional 15,736,247 shares. Sterling Capital Management LLC made a significant increase of 5,744.3%, acquiring 3,661,696 shares worth $93,520,000 during the same period. Other institutional investors like Holocene Advisors LP and Envestnet Asset Management Inc. also expanded their stakes significantly, continuing to reflect a strong institutional interest in Coterra Energy, which is 87.92% owned by hedge funds and other institutional investors.

Coterra Energy Overview

Coterra Energy Inc. is an independent oil and gas company focused on the development, exploration, and production of oil, natural gas, and natural gas liquids across the United States. The company's significant properties include approximately 186,000 net acres in the Marcellus Shale in Susquehanna County, Pennsylvania, 296,000 net acres in the Permian Basin in Texas and New Mexico, and 182,000 net acres in the Anadarko Basin in Oklahoma.

Coterra, Energy, Forecast