Stephens Issues Pessimistic Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price cut by equities researchers at Stephens from $34.00 to $33.00 in a report issued on Tuesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ price target points to a potential upside of 41.52% from the stock’s current price.

Several other equities analysts also recently issued reports on CTRA. Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. JPMorgan Chase & Co. boosted their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Barclays cut their price target on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Roth Capital lowered their price objective on shares of Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group cut their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Coterra Energy Stock Performance

Shares of CTRA opened at $23.32 on Tuesday. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $29.95. The stock has a fifty day moving average price of $23.76 and a 200-day moving average price of $24.53. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The firm has a market cap of $17.79 billion, a PE ratio of 11.16, a P/E/G ratio of 0.35 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 54.6% compared to the same quarter last year. Equities research analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of Coterra Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Coterra Energy by 7.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock worth $3,577,000 after acquiring an additional 8,726 shares during the period. Vontobel Holding Ltd. acquired a new position in Coterra Energy during the first quarter worth $233,000. Truist Financial Corp raised its position in Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after acquiring an additional 2,625,126 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Coterra Energy by 15.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,835 shares of the company’s stock valued at $19,944,000 after purchasing an additional 104,999 shares during the period. Finally, Wealth Advisory Solutions LLC acquired a new stake in shares of Coterra Energy in the second quarter valued at about $342,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.