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

Coterra Energy (NYSE:CTRA) had its price target lowered by stock analysts at Piper Sandler from $38.00 to $37.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 42.39% from the stock’s current price.

CTRA has been the topic of several other research reports. Susquehanna cut their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Wolfe Research dropped their target price on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. 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 report on Wednesday, November 5th. Siebert Williams Shank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, Barclays lowered their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Seventeen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.38.

Coterra Energy Price Performance

Shares of CTRA traded up $0.02 during trading hours on Tuesday, hitting $25.99. 1,468,893 shares of the company were exchanged, 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 PE ratio of 12.43, a PEG ratio of 0.36 and a beta of 0.30. The firm has a fifty day simple moving average of $24.17 and a 200-day simple moving average of $24.49. Coterra Energy has a one year low of $22.33 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, sell-side analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Coterra Energy by 15.3% in the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after buying an additional 11,102,350 shares during the last quarter. Davis Selected Advisers acquired a new position in shares of Coterra Energy during the second quarter worth approximately $237,002,000. Vanguard Group Inc. grew its position in Coterra Energy by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares during the last quarter. AQR Capital Management LLC increased its stake in Coterra Energy by 287.7% during the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock valued at $108,154,000 after acquiring an additional 3,393,697 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Coterra Energy by 5,145.4% in the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company’s stock valued at $89,592,000 after purchasing an additional 3,040,963 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Company Profile

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.