Scotiabank Reaffirms Sector Perform Rating for Coterra Energy (NYSE:CTRA)

Coterra Energy (NYSE:CTRA)‘s stock had its “sector perform” rating reiterated by investment analysts at Scotiabank in a report released on Tuesday,Benzinga reports. They currently have a $31.00 target price on the stock. Scotiabank’s price target would suggest a potential upside of 11.36% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Roth Mkm raised their price target on shares of Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. UBS Group lifted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 12th. Piper Sandler dropped their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, BMO Capital Markets decreased their target price on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.81.

Coterra Energy Stock Down 3.5%

NYSE:CTRA opened at $27.84 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.69 and a beta of 0.36. Coterra Energy has a one year low of $22.33 and a one year high of $29.82. The stock has a 50-day simple moving average of $26.34 and a 200 day simple moving average of $24.93.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Sell-side analysts predict that Coterra Energy will post 1.54 EPS for the current fiscal year.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CTRA. Advisors Asset Management Inc. raised its position in shares of Coterra Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after purchasing an additional 398 shares during the period. KLCM Advisors Inc. increased its stake in Coterra Energy by 4.2% in the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after purchasing an additional 400 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Coterra Energy by 2.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock worth $363,000 after buying an additional 415 shares during the period. Profund Advisors LLC lifted its stake in Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after buying an additional 418 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC lifted its stake in Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after buying an additional 429 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy News Summary

Here are the key news stories impacting Coterra Energy this week:

• Positive Sentiment: Combination creates a large?cap shale operator with a stronger Delaware Basin footprint and operational scale that could drive cost synergies and higher free cash flow potential. Devon Energy and Coterra Energy to Combine, Creating a Premier Shale Operator
• Positive Sentiment: Deal scale (reported at about $58B including debt) positions the merged firm as a top independent U.S. shale producer, which can improve market access and valuation multiples for the combined entity. US shale producers Devon and Coterra to merge in a $58 billion deal
• Positive Sentiment: Large shareholder Kimmeridge publicly supports the transaction, reducing near?term activist friction and improving the odds the deal clears shareholder votes. KIMMERIDGE COMMENTS ON PROPOSED MERGER OF COTERRA AND DEVON
• Neutral Sentiment: Management held an M&A call and provided integration and synergy commentary; investors should review the call transcript for guidance on expected cost saves and timeline. Coterra Energy Inc. (CTRA) M&A Call Transcript
• Neutral Sentiment: Analysts and value investors are re?assessing CTRA’s valuation and long?term returns in light of the merger — expect revisions to estimates and coverage as pro forma financials emerge. Assessing Coterra Energy (CTRA) Valuation After Recent Share Price Momentum And Long Term Returns
• Negative Sentiment: Multiple shareholder law firms have launched investigations alleging potential breaches of fiduciary duty and unfair pricing (several separate alerts/filings), creating legal overhang and execution risk for shareholders. SHAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Coterra Energy, Inc. (NYSE: CTRA)
• Negative Sentiment: Short?term selling pressure followed the announcement as investors reacted to deal specifics and fairness concerns; keep an eye on the exchange ratio disclosures and any formal challenges that could delay or alter terms. Devon Energy and Coterra Energy stock falls on merger announcement

About Coterra Energy

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.