Coterra Energy (NYSE:CTRA) Price Target Cut to $32.00

Coterra Energy (NYSE:CTRA) had its target price decreased by analysts at Scotiabank from $35.00 to $32.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 28.57% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Truist Financial dropped their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. UBS Group decreased their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Barclays dropped their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Piper Sandler reduced their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.06.

Coterra Energy Stock Performance

NYSE CTRA opened at $24.89 on Thursday. The stock has a market capitalization of $18.40 billion, a PE ratio of 14.22, a P/E/G ratio of 1.41 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The company’s 50 day simple moving average is $23.83 and its two-hundred day simple moving average is $26.13. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that Coterra Energy will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently modified their holdings of CTRA. Cohen & Steers Inc. raised its holdings in shares of Coterra Energy by 37.1% during the 4th quarter. Cohen & Steers Inc. now owns 110,814 shares of the company’s stock valued at $2,828,000 after buying an additional 30,002 shares during the period. Bridgefront Capital LLC bought a new stake in shares of Coterra Energy during the fourth quarter valued at about $399,000. DRW Securities LLC lifted its stake in shares of Coterra Energy by 53.1% in the 4th quarter. DRW Securities LLC now owns 77,200 shares of the company’s stock worth $1,970,000 after acquiring an additional 26,780 shares during the period. Creekmur Asset Management LLC acquired a new position in Coterra Energy during the fourth quarter worth about $126,000. Finally, Greenwood Capital Associates LLC raised its holdings in shares of Coterra Energy by 17.5% in the 4th quarter. Greenwood Capital Associates LLC now owns 68,287 shares of the company’s stock worth $1,743,000 after purchasing an additional 10,159 shares in the last quarter. 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.