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

Coterra Energy (NYSE:CTRA) had its price objective boosted by analysts at Susquehanna from $32.00 to $34.00 in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 20.48% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on CTRA. UBS Group upped their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. BMO Capital Markets reduced their price target on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a report on Monday, December 15th. Johnson Rice decreased their price objective on Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Scotiabank reissued a “sector perform” rating and set a $31.00 target price on shares of Coterra Energy in a research note on Tuesday. Finally, Morgan Stanley lowered their price target on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.14.

Coterra Energy Stock Performance

Shares of CTRA traded up $0.41 during trading hours on Tuesday, hitting $28.22. The stock had a trading volume of 2,636,335 shares, compared to its average volume of 11,476,720. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.69 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. The firm has a 50-day moving average price of $26.34 and a 200 day moving average price of $24.93. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $29.82.

Coterra Energy (NYSE:CTRA) last posted 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 net margin of 23.25% and a return on equity of 11.23%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.32 earnings per share. Coterra Energy’s revenue was up 33.7% on a year-over-year basis. As a group, research analysts anticipate that Coterra Energy will post 1.54 EPS for the current year.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. lifted its position in shares of Coterra Energy by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 85,727 shares of the company’s stock worth $2,176,000 after buying an additional 2,227 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Coterra Energy by 7.7% in the second quarter. Checchi Capital Advisers LLC now owns 12,234 shares of the company’s stock valued at $310,000 after acquiring an additional 876 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Coterra Energy by 15.7% during the second quarter. Simplicity Wealth LLC now owns 8,927 shares of the company’s stock worth $227,000 after purchasing an additional 1,213 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Coterra Energy by 4.6% in the 2nd quarter. Belpointe Asset Management LLC now owns 17,515 shares of the company’s stock valued at $445,000 after purchasing an additional 777 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its position in shares of Coterra Energy by 0.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 605,600 shares of the company’s stock valued at $15,370,000 after purchasing an additional 4,900 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Key Stories Impacting Coterra Energy

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

• Positive Sentiment: The deal creates a large-cap, Delaware Basin?focused shale operator that management says will drive scale, cost synergies and a stronger free?cash?flow profile for combined shareholders. US shale producers Devon and Coterra to merge in a $58 billion deal
• Positive Sentiment: Large shareholder Kimmeridge publicly supports the combination, which reduces risk that a major investor will oppose the transaction and may help smooth the approval path. KIMMERIDGE COMMENTS ON PROPOSED MERGER OF COTERRA AND DEVON
• Positive Sentiment: Scotiabank reaffirmed a “sector perform” rating and set a $31 price target, implying upside versus recent levels and signaling some analyst confidence in the combined value proposition. Benzinga
• Neutral Sentiment: Analysts and commentators are digesting valuation and longer?term returns for CTRA ahead of deal close; several note the potential for improved scale but debate the fairness of the exchange ratio. Coterra And Devon Merger Reshapes Shale Outlook And Valuation Case
• Neutral Sentiment: Company M&A call transcript and additional write?ups provide details on integration plans and expected synergies; these are useful for modeling post?deal cash flow but won’t resolve near?term market uncertainty. Coterra Energy Inc. (CTRA) M&A Call Transcript
• Negative Sentiment: Both Devon and Coterra shares initially fell on the merger announcement as investors weigh dilution/terms, integration risk and the potential that the market already priced some deal benefits. Devon Energy and Coterra Energy stock falls on merger announcement
• Negative Sentiment: Multiple law firms have launched investigations and shareholder?class action alerts questioning whether Coterra shareholders are receiving a fair price, adding legal and closing?risk overhang. SHAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Coterra Energy, Inc.

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.