JPMorgan Chase & Co. Lowers Coterra Energy (NYSE:CTRA) Price Target to $34.00

Coterra Energy (NYSE:CTRA) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $35.00 to $34.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 27.80% from the stock’s previous close.

Several other research analysts have also recently commented on CTRA. Roth Capital reissued a “buy” rating and set a $27.00 price target on shares of Coterra Energy in a research report on Tuesday. Morgan Stanley dropped their price objective on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. UBS Group decreased their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Piper Sandler dropped their price target on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Seventeen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.43.

Coterra Energy Stock Up 0.9%

Shares of CTRA traded up $0.24 during mid-day trading on Wednesday, hitting $26.61. 9,296,217 shares of the company’s stock were exchanged, compared to its average volume of 7,561,903. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $29.95. The company has a market cap of $20.30 billion, a PE ratio of 12.73, a P/E/G ratio of 0.36 and a beta of 0.30. The company has a 50-day simple moving average of $23.92 and a 200 day simple moving average of $24.46.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $558.00 million during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. On average, research analysts forecast that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in Coterra Energy during the first quarter worth about $29,000. Bogart Wealth LLC acquired a new position in shares of Coterra Energy during the 2nd quarter worth approximately $26,000. REAP Financial Group LLC increased its holdings in shares of Coterra Energy by 190.1% during the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Winnow Wealth LLC acquired a new stake in shares of Coterra Energy in the third quarter valued at approximately $29,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Coterra Energy in the third quarter valued at approximately $29,000. Institutional investors own 87.92% of the company’s stock.

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.