Mizuho Lowers Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its target price decreased by Mizuho from $36.00 to $33.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 35.94% from the stock’s previous close.

CTRA has been the topic of several other research reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 price target (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st. Wells Fargo & Company upped their price target on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Pickering Energy Partners lowered Coterra Energy from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 20th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Coterra Energy in a research note on Friday, July 11th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.22.

Coterra Energy Trading Down 0.3%

NYSE:CTRA traded down $0.09 during trading hours on Monday, hitting $24.28. The company had a trading volume of 1,079,501 shares, compared to its average volume of 6,872,833. 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 company has a 50-day moving average of $24.14 and a 200 day moving average of $25.30. The company has a market cap of $18.53 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.34 and a beta of 0.34. Coterra Energy has a 1 year low of $22.46 and a 1 year high of $29.95.

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

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Coterra Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after buying an additional 2,872,288 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Coterra Energy by 15.3% in the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the period. State Street Corp grew its position in shares of Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 5.9% in 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 period. Finally, Geode Capital Management LLC grew its position in shares of Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after purchasing an additional 953,824 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.