Piper Sandler Has Lowered Expectations for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target decreased by stock analysts at Piper Sandler from $35.00 to $33.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 39.01% from the stock’s previous close.

A number of other research firms have also issued reports on CTRA. Mizuho lifted their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Citigroup upped their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Scotiabank decreased 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 research note on Thursday, October 10th. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.53.

Coterra Energy Stock Down 3.2 %

Shares of CTRA opened at $23.74 on Tuesday. The company’s 50-day simple moving average is $25.00 and its 200-day simple moving average is $25.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $28.90. The stock has a market capitalization of $17.49 billion, a PE ratio of 14.30, a P/E/G ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Analysts forecast that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CTRA. Wellington Management Group LLP grew its position in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares during the period. Bank of Montreal Can boosted its holdings 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 in the last quarter. Weiss Asset Management LP purchased a new position in Coterra Energy during the third quarter worth about $28,380,000. Finally, Marshall Wace LLP lifted its position in 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 purchasing an additional 1,127,399 shares during the period. 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.