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

Coterra Energy (NYSE:CTRA) had its price objective upped by research analysts at UBS Group from $31.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 36.83% from the company’s previous close.

CTRA has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Piper Sandler raised their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial boosted their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Stephens lifted their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday. Two 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Price Performance

NYSE CTRA opened at $25.58 on Friday. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The stock’s 50-day moving average is $23.95 and its two-hundred day moving average is $25.46. The firm has a market cap of $18.84 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. On average, analysts anticipate that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently added to or reduced their stakes in CTRA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Coterra Energy in the 1st quarter worth approximately $656,000. Quadrature Capital Ltd raised its stake in Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after acquiring an additional 38,278 shares in the last quarter. CreativeOne Wealth LLC raised its stake in Coterra Energy by 130.3% during the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock worth $1,586,000 after acquiring an additional 32,173 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after purchasing an additional 56,748 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after purchasing an additional 51,249 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

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.