Morgan Stanley Raises Coterra Energy (NYSE:CTRA) Price Target to $29.00

Coterra Energy (NYSE:CTRA) had its price objective increased by Morgan Stanley from $27.00 to $29.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 13.50% from the stock’s previous close.

A number of other research firms have also weighed in on CTRA. Truist Financial lifted their target price on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. UBS Group cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Susquehanna raised their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday. Scotiabank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Mizuho raised their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $25.55 on Thursday. The company has a 50-day moving average price of $23.95 and a two-hundred day moving average price of $25.48. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $18.82 billion, a PE ratio of 15.39, a P/E/G ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its earnings results 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 company 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 company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Equities analysts forecast that Coterra Energy will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Coterra Energy by 28.4% in the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Holocene Advisors LP increased its position in shares of Coterra Energy by 187.2% in the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after acquiring an additional 2,954,675 shares during the period. Bank of Montreal Can increased its position in shares of Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares during the period. Weiss Asset Management LP purchased a new position in shares of Coterra Energy in the third quarter valued at about $28,380,000. Finally, Marshall Wace LLP increased its position in shares of Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after acquiring an additional 1,127,399 shares during the period. 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.