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

Coterra Energy (NYSE:CTRA) had its target price increased by Stephens from $33.00 to $34.00 in a research report issued on Thursday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price suggests a potential upside of 19.62% from the company’s current price.

A number of other brokerages also recently issued reports on CTRA. UBS Group upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Piper Sandler lowered their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Morgan Stanley cut their price target on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Finally, Johnson Rice decreased their price objective on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Sixteen equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.81.

Coterra Energy Price Performance

CTRA traded up $0.36 during trading on Thursday, reaching $28.42. 589,210 shares of the company traded hands, compared to its average volume of 10,532,191. The company has a market cap of $21.64 billion, a P/E ratio of 13.12, a PEG ratio of 0.66 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 12-month low of $22.33 and a 12-month high of $29.82. The firm has a fifty day simple moving average of $26.25 and a 200 day simple moving average of $24.88.

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). The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. On average, equities analysts forecast that Coterra Energy will post 1.54 EPS for the current year.

Institutional Trading of Coterra Energy

Large investors have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC boosted its position in shares of Coterra Energy by 0.7% during the 4th quarter. Wealthfront Advisers LLC now owns 163,065 shares of the company’s stock valued at $4,292,000 after acquiring an additional 1,068 shares during the last quarter. Torren Management LLC acquired a new position in Coterra Energy in the 4th quarter valued at about $102,000. M&T Bank Corp grew its stake in shares of Coterra Energy by 24.6% in the 4th quarter. M&T Bank Corp now owns 205,686 shares of the company’s stock valued at $5,414,000 after buying an additional 40,567 shares during the period. Exencial Wealth Advisors LLC increased its holdings in shares of Coterra Energy by 1.6% during the 4th quarter. Exencial Wealth Advisors LLC now owns 46,747 shares of the company’s stock worth $1,230,000 after buying an additional 754 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of Coterra Energy by 30.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 358,273 shares of the company’s stock valued at $9,430,000 after buying an additional 84,623 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.