Coterra Energy (NYSE:CTRA) Price Target Cut to $31.00

Coterra Energy (NYSE:CTRA) had its price target cut by investment analysts at Truist Financial from $34.00 to $31.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 28.36% from the stock’s previous close.

Several other analysts have also recently commented on CTRA. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Susquehanna dropped their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. 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. Bank of America reiterated a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.53.

Coterra Energy Price Performance

NYSE:CTRA opened at $24.15 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.89. The business’s 50-day simple moving average is $24.01 and its two-hundred day simple moving average is $26.27. The stock has a market cap of $17.97 billion, a PE ratio of 13.96, a P/E/G ratio of 1.37 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, analysts forecast that Coterra Energy will post 1.74 EPS for the current fiscal year.

Institutional Trading of Coterra Energy

A number of large investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. purchased a new position in Coterra Energy during the 4th quarter worth $54,625,000. Bank of Montreal Can raised its holdings in shares of Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares in the last quarter. SG Americas Securities LLC lifted its stake in Coterra Energy by 2,609.6% in the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after acquiring an additional 1,484,458 shares during the period. Bridgewater Associates LP bought a new position in Coterra Energy during the 4th quarter worth about $31,112,000. Finally, Marshall Wace LLP increased its position in Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the period. 87.92% of the stock is 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.