Coterra Energy (NYSE:CTRA) Price Target Raised to $34.00

Coterra Energy (NYSE:CTRA) had its price objective boosted by Susquehanna from $32.00 to $34.00 in a report published on Tuesday, MarketBeat reports. The brokerage currently has a positive rating on the stock.

A number of other equities analysts also recently weighed in on CTRA. Stephens upped their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Piper Sandler lowered their target price on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. The Goldman Sachs Group dropped their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Raymond James Financial lifted their price target on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Finally, Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Fourteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $33.40.

Coterra Energy Stock Performance

Shares of CTRA opened at $30.33 on Tuesday. The company’s 50 day moving average price is $26.57 and its 200 day moving average price is $25.04. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $30.64. The company has a market capitalization of $23.09 billion, a PE ratio of 13.98, a PEG ratio of 0.73 and a beta of 0.38. 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 (NYSE:CTRA) last released its earnings results 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). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Research analysts expect that Coterra Energy will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Coterra Energy

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