Coterra Energy (NYSE:CTRA) Price Target Cut to $27.00

Coterra Energy (NYSE:CTRA) had its price objective dropped by equities research analysts at Morgan Stanley from $29.00 to $27.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 17.96% from the company’s current price.

A number of other equities analysts also recently issued reports on CTRA. Piper Sandler lowered their price objective on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. UBS Group reduced their price target on shares of Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Bank of America reissued a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.76.

Coterra Energy Stock Performance

Shares of NYSE:CTRA traded up $0.11 during trading on Monday, reaching $22.89. 1,574,667 shares of the stock were exchanged, compared to its average volume of 6,302,377. The firm has a market cap of $17.04 billion, a PE ratio of 13.23, a PEG ratio of 1.16 and a beta of 0.22. The stock has a 50-day moving average price of $24.77 and a 200-day moving average price of $26.50. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Research analysts expect that Coterra Energy will post 1.95 EPS for the current fiscal year.

Institutional Trading of Coterra Energy

Several hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. purchased a new position in shares of Coterra Energy in the 4th quarter worth approximately $54,625,000. Bank of Montreal Can raised its stake in shares of Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Coterra Energy by 2,609.6% in the 1st quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock worth $42,973,000 after acquiring an additional 1,484,458 shares during the last quarter. Bridgewater Associates LP bought a new stake in shares of Coterra Energy in the 4th quarter worth about $31,112,000. Finally, Marshall Wace LLP grew its holdings in Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after purchasing an additional 1,127,399 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Company Profile

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.