Mizuho Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its price objective boosted by analysts at Mizuho from $36.00 to $37.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 62.85% from the company’s current price.

CTRA has been the subject of several other research reports. UBS Group reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Wolfe Research assumed 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. Wells Fargo & Company reduced their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Finally, Truist Financial dropped their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.82.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $1.20 during trading on Friday, hitting $22.72. The company had a trading volume of 6,977,051 shares, compared to its average volume of 6,206,310. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a market cap of $16.80 billion, a P/E ratio of 12.96, a PEG ratio of 1.49 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The business’s 50-day moving average is $23.82 and its 200 day moving average is $25.73.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. Coterra Energy’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Coterra Energy will post 1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC increased its stake in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC grew its holdings in 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 buying an additional 535 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Coterra Energy in the 1st quarter worth approximately $44,000. EverSource Wealth Advisors LLC boosted its position in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after acquiring an additional 557 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in Coterra Energy in the 3rd quarter worth $57,000. Institutional investors and hedge funds 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.