Coterra Energy (NYSE:CTRA) Price Target Lowered to $32.00 at Wells Fargo & Company

Coterra Energy (NYSE:CTRA) had its price objective dropped by Wells Fargo & Company from $34.00 to $32.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 33.78% from the company’s current price.

Several other brokerages have also recently commented on CTRA. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. UBS Group dropped their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley dropped their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Piper Sandler dropped their target price on Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Susquehanna dropped their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.53.

Coterra Energy Price Performance

Shares of CTRA stock traded down $0.03 during trading hours on Tuesday, hitting $23.92. 8,720,877 shares of the company’s stock were exchanged, compared to its average volume of 6,331,790. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The firm has a market cap of $17.80 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.37 and a beta of 0.22. The firm has a 50 day moving average of $24.01 and a two-hundred day moving average of $26.27.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that Coterra Energy will post 1.74 EPS for the current year.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently modified their holdings of the business. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its stake in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Coterra Energy during the 1st quarter worth about $44,000. Harbor Investment Advisory LLC raised its position in Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Coterra Energy in the 1st quarter valued at about $47,000. 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.