JPMorgan Chase & Co. Issues Pessimistic Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $35.00 to $34.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 27.80% from the stock’s current price.

A number of other equities research analysts have also weighed in on CTRA. Weiss Ratings reissued a “hold (c)” rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Susquehanna cut their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 9th. Finally, UBS Group reduced their price objective on Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Seventeen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

Coterra Energy Stock Up 0.9%

CTRA stock opened at $26.61 on Wednesday. The stock has a 50-day simple moving average of $23.92 and a two-hundred day simple moving average of $24.46. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The firm has a market capitalization of $20.30 billion, a PE ratio of 12.73, a PEG ratio of 0.36 and a beta of 0.30. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $558.00 million during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the business posted $0.32 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities analysts predict that Coterra Energy will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after acquiring an additional 11,102,350 shares in the last quarter. Davis Selected Advisers purchased a new stake in Coterra Energy in the 2nd quarter worth $237,002,000. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after buying an additional 3,818,700 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Coterra Energy by 5,145.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company’s stock worth $89,592,000 after acquiring an additional 3,040,963 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after purchasing an additional 2,625,126 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.