Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Coterra Energy (NYSE:CTRA) had its target price increased by stock analysts at Piper Sandler from $32.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 36.99% from the company’s previous close.

Several other research firms have also weighed in on CTRA. Truist Financial reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Morgan Stanley lowered their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Trading Up 0.5 %

Shares of CTRA opened at $25.55 on Thursday. The business’s 50-day moving average price is $23.95 and its 200 day moving average price is $25.48. The stock has a market capitalization of $18.82 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.67 and a beta of 0.22. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results 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 business had revenue of $1.36 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. Analysts expect that Coterra Energy will post 1.53 earnings per share for the current year.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC grew its stake in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC increased its stake in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Coterra Energy during the third quarter valued at approximately $57,000. Tobam bought a new position in shares of Coterra Energy during the third quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after acquiring an additional 557 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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.