Zacks Research Downgrades Coterra Energy (NYSE:CTRA) to Strong Sell

Coterra Energy (NYSE:CTRA) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

CTRA has been the topic of several other research reports. Roth Capital reissued a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a research report on Tuesday, November 4th. Wolfe Research cut their target price on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. The Goldman Sachs Group decreased their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Susquehanna dropped their price target on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Finally, Mizuho upped their price objective on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.62.

Coterra Energy Stock Up 1.9%

Coterra Energy stock opened at $26.20 on Monday. The company has a market capitalization of $19.95 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.53 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $29.82. The firm has a 50 day moving average price of $26.04 and a 200 day moving average price of $24.76.

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

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently modified their holdings of CTRA. Vanguard Group Inc. lifted its holdings in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. State Street Corp raised its position in shares of Coterra Energy by 0.9% during the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after acquiring an additional 386,526 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Coterra Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock valued at $510,410,000 after purchasing an additional 534,132 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after purchasing an additional 953,824 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.