Coterra Energy (NYSE:CTRA) Price Target Raised to $40.00

Coterra Energy (NYSE:CTRA) had its price objective lifted by Wolfe Research from $33.00 to $40.00 in a report released on Tuesday,MarketScreener reports.

Other research analysts have also issued reports about the stock. Roth Mkm boosted their price objective on shares of Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Johnson Rice lowered their price target on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Piper Sandler cut their price objective on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. BMO Capital Markets reduced their target price on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Finally, Mizuho boosted their target price on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, January 15th. Fourteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.40.

Coterra Energy Trading Down 0.5%

Coterra Energy stock opened at $30.33 on Tuesday. The company has a market cap of $23.09 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 0.73 and a beta of 0.38. The firm has a 50-day moving average of $26.57 and a 200-day moving average of $25.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. Coterra Energy has a one year low of $22.33 and a one year high of $30.64.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. On average, equities analysts expect that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTRA. Davis Selected Advisers raised its stake in Coterra Energy by 63.6% during the fourth quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock worth $856,387,000 after acquiring an additional 12,654,027 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after acquiring an additional 3,781,606 shares during the last quarter. AQR Capital Management LLC raised its position in Coterra Energy by 287.7% during the 3rd quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after purchasing an additional 3,393,697 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in shares of Coterra Energy by 308.9% in the third quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock worth $55,883,000 after acquiring an additional 1,784,967 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Coterra Energy by 17.6% in the 3rd quarter. Invesco Ltd. now owns 11,744,004 shares of the company’s stock worth $277,746,000 after purchasing an additional 1,758,859 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.