Coterra Energy shares are higher in Thursday trading as the energy complex catches a bid, with crude prices surging on renewed supply-risk headlines tied to the Middle East. WTI crude is up roughly 4% on April 23, 2026, supporting broad buying in U.S. E&P names whose cash flows typically improve when realized commodity prices rise. iteturn1search0

Adding to the tailwind, Susquehanna raised its price target on Coterra to $40 from $34 in a research update dated April 22, 2026. For a stock trading around the mid-$30s, a higher target can act as a near-term sentiment catalyst, particularly when it aligns with a sector-wide commodity rally. iteturn2search4

Coterra is in a news-heavy period with a pending all-stock combination with Devon Energy that is expected to close in the second quarter of 2026, subject to customary conditions including shareholder approvals. The companies have scheduled Coterra’s special meeting for May 4, 2026, keeping investors focused on deal timing and the value implied by the exchange ratio as both stocks fluctuate with energy prices. iteturn2search2
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Near-term, traders will be watching whether the crude spike sustains and whether natural gas strengthens as well, since Coterra has significant gas exposure. Next key dates are the May 4, 2026 shareholder vote tied to the Devon transaction and Coterra’s next expected earnings date of May 4, 2026 after market close, both of which could shift the stock’s risk/reward quickly. iteturn2search5
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