Stephens Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price upped by stock analysts at Stephens from $28.00 to $29.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ target price would suggest a potential upside of 28.04% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Mizuho lifted their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank cut their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Wolfe Research began coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $31.24.

Coterra Energy Trading Down 5.3 %

Shares of NYSE:CTRA traded down $1.27 during mid-day trading on Friday, reaching $22.65. 8,868,879 shares of the company were exchanged, compared to its average volume of 6,212,438. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.49 and a beta of 0.22. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The firm’s 50-day simple moving average is $23.82 and its 200 day simple moving average is $25.73.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Coterra Energy will post 1.62 EPS for the current year.

Institutional Trading of Coterra Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Coterra Energy in the third quarter valued at approximately $67,000. Summit Global Investments acquired a new stake in shares of Coterra Energy during the 3rd quarter worth about $621,000. Verity Asset Management Inc. grew its position in Coterra Energy by 1.5% in the 3rd quarter. Verity Asset Management Inc. now owns 53,273 shares of the company’s stock valued at $1,276,000 after acquiring an additional 778 shares in the last quarter. Confluence Investment Management LLC grew its position in Coterra Energy by 8.4% in the 3rd quarter. Confluence Investment Management LLC now owns 21,482 shares of the company’s stock valued at $514,000 after acquiring an additional 1,662 shares in the last quarter. Finally, Donald L. Hagan LLC grew its position in Coterra Energy by 5.5% in the 3rd quarter. Donald L. Hagan LLC now owns 36,773 shares of the company’s stock valued at $881,000 after acquiring an additional 1,911 shares in the last quarter. 87.92% of the stock is currently owned by 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.