Coterra Energy (NYSE:CTRA) Price Target Raised to $35.00 at Wells Fargo & Company

Coterra Energy (NYSE:CTRA) had its target price hoisted by research analysts at Wells Fargo & Company from $32.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 37.25% from the company’s current price.

Several other brokerages have also recently issued reports on CTRA. Barclays upped their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Piper Sandler raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, UBS Group increased their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Two 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, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.41.

Coterra Energy Stock Up 0.3 %

NYSE:CTRA traded up $0.07 during trading hours on Friday, hitting $25.50. The company’s stock had a trading volume of 4,496,797 shares, compared to its average volume of 6,237,759. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.78 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The stock has a fifty day moving average of $23.86 and a 200-day moving average of $25.50.

Coterra Energy (NYSE:CTRA) last issued 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). 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 revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. On average, equities analysts forecast that Coterra Energy will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Systematic Financial Management LP boosted its holdings in shares of Coterra Energy by 37.7% in the 3rd quarter. Systematic Financial Management LP now owns 115,250 shares of the company’s stock valued at $2,760,000 after purchasing an additional 31,555 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Coterra Energy by 17.2% during the third quarter. Royal London Asset Management Ltd. now owns 2,077,405 shares of the company’s stock valued at $49,754,000 after acquiring an additional 304,240 shares during the period. Pingora Partners LLC raised its holdings in shares of Coterra Energy by 1.0% in the 3rd quarter. Pingora Partners LLC now owns 137,717 shares of the company’s stock worth $3,298,000 after purchasing an additional 1,300 shares during the period. Point72 DIFC Ltd lifted its stake in shares of Coterra Energy by 102.5% in the 3rd quarter. Point72 DIFC Ltd now owns 189,117 shares of the company’s stock valued at $4,529,000 after purchasing an additional 95,718 shares in the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in shares of Coterra Energy by 47.1% during the 3rd quarter. Investment Management Corp of Ontario now owns 24,659 shares of the company’s stock worth $591,000 after purchasing an additional 7,900 shares during the period. Institutional investors and hedge funds 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.