Coterra Energy (NYSE:CTRA) PT Lowered to $31.00

Coterra Energy (NYSE:CTRA) had its target price lowered by research analysts at Barclays from $33.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 24.70% from the company’s current price.

Other equities analysts have also issued reports about the stock. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Wells Fargo & Company reduced their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday. Piper Sandler reduced their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. cut their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Wolfe Research assumed coverage on shares of Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.24.

Coterra Energy Stock Performance

Coterra Energy stock opened at $24.86 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.89. The firm has a market capitalization of $18.50 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The company’s 50-day moving average is $23.91 and its 200 day moving average is $26.22.

Coterra Energy (NYSE:CTRA) last posted 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts forecast that Coterra Energy will post 1.74 EPS for the current year.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC lifted its stake in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC lifted 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 purchasing 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 position in Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in Coterra Energy during the first quarter valued at $47,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.