Coterra Energy (NYSE:CTRA) Price Target Raised to $35.00

Coterra Energy (NYSE:CTRA) had its target price hoisted by equities research analysts at Wells Fargo & Company from $32.00 to $35.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 36.83% from the company’s current price.

CTRA has been the subject of several other reports. Scotiabank reduced their price objective on 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. Truist Financial upped their price target on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their target price 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. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Trading Up 0.6 %

Coterra Energy stock opened at $25.58 on Friday. 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 $18.84 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.67 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $23.95 and a two-hundred day simple moving average of $25.46.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Analysts predict that Coterra Energy will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Coterra Energy by 98.0% during the 2nd 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. purchased a new position in shares of Coterra Energy in the third quarter valued at $57,000. Tobam bought a new stake in Coterra Energy in the third quarter worth $63,000. Finally, EverSource Wealth Advisors LLC raised its stake in Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.