Piper Sandler Lowers Coterra Energy (NYSE:CTRA) Price Target to $37.00

by · The Cerbat Gem

Coterra Energy (NYSE:CTRA – Get Free Report) had its price objective decreased by equities research analysts at Piper Sandler from $38.00 to $37.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 42.39% from the company’s previous close.

CTRA has been the topic of several other reports. Zacks Research downgraded Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Stephens dropped their target price on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. The Goldman Sachs Group dropped their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Mizuho reduced their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Seventeen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.38.

Read Our Latest Research Report on CTRA

Coterra Energy Price Performance

Shares of CTRA traded up $0.02 during mid-day trading on Tuesday, reaching $25.99. The company had a trading volume of 1,468,893 shares, compared to its average volume of 7,546,440. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The company has a market capitalization of $19.78 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.36 and a beta of 0.30. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The company’s 50-day moving average is $24.17 and its 200-day moving average is $24.49.

Coterra Energy (NYSE:CTRA – Get Free Report) last announced its quarterly earnings results 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). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $0.32 earnings per share. The business’s revenue was up 33.7% on a year-over-year basis. On average, equities 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 added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. Wellington Management Group LLP raised its holdings in Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after acquiring an additional 11,102,350 shares in the last quarter. State Street Corp raised its holdings in Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after acquiring an additional 386,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after purchasing an additional 1,495,553 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Coterra Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock valued at $510,410,000 after purchasing an additional 534,132 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

About Coterra Energy

(Get Free Report)

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.

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