Coterra Energy (NYSE:CTRA) PT Lowered to $32.00

Coterra Energy (NYSE:CTRA) had its target price decreased by equities researchers at Wells Fargo & Company from $34.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 30.72% from the company’s current price.

CTRA has been the subject of several other research reports. Morgan Stanley decreased their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Truist Financial lowered their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Piper Sandler lowered 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, UBS Group reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Stock Up 1.4 %

Shares of Coterra Energy stock opened at $24.48 on Tuesday. The stock has a market capitalization of $18.22 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.37 and a beta of 0.22. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.89. 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 business’s 50 day simple moving average is $23.98 and its 200-day simple moving average is $26.26.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Equities research analysts forecast that Coterra Energy will post 1.74 earnings per share for the current year.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently bought and sold shares of CTRA. Fortitude Family Office LLC raised its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC raised its position in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Central Pacific Bank Trust Division acquired a new position in Coterra Energy during the first quarter valued at $44,000. Harbor Investment Advisory LLC lifted its stake in Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Coterra Energy during the 1st quarter worth about $47,000. 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.