Coterra Energy (NYSE:CTRA) Price Target Cut to $31.00 by Analysts at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) had its price target dropped by JPMorgan Chase & Co. from $34.00 to $31.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 25.38% from the company’s current price.

Several other research firms also recently commented on CTRA. Piper Sandler reduced their price objective on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Barclays dropped their target price on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. William Blair initiated coverage on Coterra Energy in a research note on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target for the company. Scotiabank lowered their price objective 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, Mizuho dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $32.73.

Coterra Energy Stock Performance

CTRA stock traded down $0.10 on Monday, hitting $24.73. The company’s stock had a trading volume of 4,697,688 shares, compared to its average volume of 8,275,203. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 0.38 and a beta of 0.36. The firm has a 50 day moving average of $26.10 and a two-hundred day moving average of $24.75. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $29.95.

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 the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. Equities analysts predict that Coterra Energy will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in Coterra Energy by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after purchasing an additional 398 shares in the last quarter. KLCM Advisors Inc. grew its holdings in Coterra Energy by 4.2% in the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after purchasing an additional 400 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Coterra Energy by 2.8% in the third quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock valued at $363,000 after buying an additional 415 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Coterra Energy by 1.4% during the 3rd quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after buying an additional 418 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC raised its stake in shares of Coterra Energy by 1.0% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after buying an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

About Coterra Energy

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.