Coterra Energy (NYSE:CTRA) Shares Down 4.3% – Should You Sell?

Coterra Energy Inc. (NYSE:CTRA) was down 4.3% on Friday . The company traded as low as $22.87 and last traded at $22.90. Approximately 3,812,256 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 6,189,651 shares. The stock had previously closed at $23.92.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CTRA shares. Wolfe Research started coverage on Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Piper Sandler reduced their price target on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. UBS Group reduced their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company reduced their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Susquehanna cut their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.06.

Coterra Energy Stock Performance

The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $23.82 and a 200-day moving average of $25.73. The stock has a market cap of $16.77 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.49 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data 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 business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, equities analysts forecast that Coterra Energy Inc. will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors have recently modified their holdings of CTRA. Bank of Montreal Can boosted its stake in shares of Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Coterra Energy by 2,609.6% during the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after purchasing an additional 1,484,458 shares during the last quarter. Marshall Wace LLP raised its position in shares of Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after purchasing an additional 1,127,399 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Coterra Energy during the 1st quarter worth approximately $28,967,000. Finally, American Century Companies Inc. raised its position in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during 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.