Coterra Energy (NYSE:CTRA) PT Lowered to $31.00

Coterra Energy (NYSE:CTRA) had its price objective lowered by Barclays from $33.00 to $31.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 24.70% from the company’s current price.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company cut their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday. Truist Financial cut 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. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. UBS Group dropped their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, BMO Capital Markets raised Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $32.24.

Coterra Energy Stock Performance

Coterra Energy stock opened at $24.86 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $23.91 and a 200-day moving average of $26.22. The firm has a market cap of $18.50 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.37 and a beta of 0.22. 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 earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. Sell-side analysts expect that Coterra Energy will post 1.74 EPS for the current year.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Coterra Energy in the 1st quarter valued at about $44,000. Harbor Investment Advisory LLC lifted its holdings in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Coterra Energy in the 1st quarter valued at about $47,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

About Coterra Energy

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.