Coterra Energy (NYSE:CTRA) Price Target Raised to $29.00

Coterra Energy (NYSE:CTRA) had its price target raised by equities research analysts at Morgan Stanley from $27.00 to $29.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 13.50% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Stephens boosted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. UBS Group decreased their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Susquehanna lifted their target price on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Two equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Trading Up 0.5 %

Shares of CTRA opened at $25.55 on Thursday. The firm’s 50-day moving average price is $23.95 and its 200-day moving average price is $25.48. The firm has a market capitalization of $18.82 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.47 EPS. The company’s revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Coterra Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares during the last quarter. King Luther Capital Management Corp boosted its position in shares of Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after acquiring an additional 285,774 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Coterra Energy by 5.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after acquiring an additional 284,106 shares during the last quarter. 87.92% of the stock is 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.