Coterra Energy (NYSE:CTRA) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Coterra Energy (NYSE:CTRA) released its quarterly earnings data on Thursday. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.10), Zacks reports. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%.

Coterra Energy Stock Up 0.2%

Shares of Coterra Energy stock traded up $0.07 during trading on Thursday, reaching $29.97. The company’s stock had a trading volume of 7,096,535 shares, compared to its average volume of 11,479,816. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $32.67. The company has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $25.74. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a market cap of $22.82 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 0.76 and a beta of 0.38.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. increased its holdings in shares of Coterra Energy by 2.6% during the fourth quarter. Panagora Asset Management Inc. now owns 13,747 shares of the company’s stock valued at $362,000 after acquiring an additional 347 shares in the last quarter. Johnson Financial Group Inc. grew its position in Coterra Energy by 1.4% during the 4th quarter. Johnson Financial Group Inc. now owns 25,158 shares of the company’s stock worth $662,000 after purchasing an additional 349 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in Coterra Energy by 2.1% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 23,800 shares of the company’s stock valued at $563,000 after purchasing an additional 500 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Coterra Energy by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,645 shares of the company’s stock worth $70,000 after buying an additional 529 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Coterra Energy by 16.2% during the third quarter. Quarry LP now owns 4,056 shares of the company’s stock worth $96,000 after buying an additional 566 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a report on Monday, December 15th. Roth Mkm set a $28.00 price objective on shares of Coterra Energy and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Mizuho boosted their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Susquehanna upped their target price on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Finally, Barclays cut their price target on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Fifteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $33.48.

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.