Barclays Increases Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its target price raised by stock analysts at Barclays from $31.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 29.16% from the stock’s current price.

Several other analysts have also commented on CTRA. Wolfe Research initiated coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Susquehanna raised their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday. Scotiabank dropped their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley dropped their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler raised their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Trading Up 0.5 %

Coterra Energy stock opened at $25.55 on Thursday. The stock has a 50-day moving average of $23.95 and a two-hundred day moving average of $25.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a one year low of $22.30 and a one year high of $28.90. The stock has a market cap of $18.82 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

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

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its stake in Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after acquiring an additional 399 shares during the last quarter. TCW Group Inc. increased its stake in Coterra Energy by 4.0% during the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the last quarter. Cornercap Investment Counsel Inc. increased its stake in Coterra Energy by 0.7% during the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after acquiring an additional 436 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Coterra Energy by 17.4% during the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Coterra Energy by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after acquiring an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.