Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Truist Financial Analyst Says

Coterra Energy (NYSE:CTRA) had its target price lifted by equities research analysts at Truist Financial from $31.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 29.21% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company cut their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Piper Sandler upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Wolfe Research initiated coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target on the stock. Stephens upped their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lowered their target price on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Two equities research 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, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $31.88.

Coterra Energy Stock Up 0.6 %

Shares of NYSE:CTRA traded up $0.14 during trading on Thursday, hitting $25.54. 1,337,819 shares of the company were exchanged, compared to its average volume of 6,225,205. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm’s 50 day moving average price is $23.86 and its 200-day moving average price is $25.50. The stock has a market capitalization of $18.81 billion, a P/E ratio of 15.39, a PEG ratio of 1.64 and a beta of 0.22. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 EPS. On average, research analysts predict that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently added to or reduced their stakes in CTRA. Charles Schwab Investment Management Inc. raised its position in Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Coterra Energy by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after buying an additional 195,966 shares in the last quarter. King Luther Capital Management Corp increased its position in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after acquiring an additional 51,249 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

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.