Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Truist Financial

Coterra Energy (NYSE:CTRA) had its price objective raised by stock analysts at Truist Financial from $31.00 to $33.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 29.16% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CTRA. Stephens raised their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Wells Fargo & Company cut their price target on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Morgan Stanley cut their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Barclays raised their price target on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Price Performance

Shares of CTRA opened at $25.55 on Thursday. The stock has a market capitalization of $18.82 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.67 and a beta of 0.22. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a 50 day moving average of $23.95 and a 200-day moving average of $25.48. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC grew its position in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC grew its position in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new position in Coterra Energy in the third quarter valued at about $57,000. Tobam bought a new position in Coterra Energy in the third quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.