Coterra Energy (NYSE:CTRA) Price Target Lowered to $31.00 at Barclays

Coterra Energy (NYSE:CTRA) had its price target decreased by stock analysts at Barclays from $33.00 to $31.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 26.38% from the stock’s previous close.

A number of other research firms have also recently issued reports on CTRA. Wells Fargo & Company lowered their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Morgan Stanley reduced their target price on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. UBS Group lowered their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Bank of America reissued a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.24.

Coterra Energy Price Performance

Coterra Energy stock traded up $0.05 on Thursday, reaching $24.53. The company’s stock had a trading volume of 1,384,399 shares, compared to its average volume of 6,337,881. The business’s fifty day moving average price is $23.95 and its 200 day moving average price is $26.25. The company has a market cap of $18.26 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.37 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its 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). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. Equities analysts expect that Coterra Energy will post 1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Czech National Bank boosted its position in shares of Coterra Energy by 6.2% during the third quarter. Czech National Bank now owns 150,598 shares of the company’s stock worth $3,607,000 after acquiring an additional 8,777 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Coterra Energy during the second quarter valued at approximately $3,420,000. New Wave Wealth Advisors LLC purchased a new stake in Coterra Energy in the second quarter worth $245,000. Cetera Investment Advisers lifted its holdings in Coterra Energy by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock valued at $5,698,000 after buying an additional 4,555 shares in the last quarter. Finally, Graham Capital Wealth Management LLC boosted its holdings in shares of Coterra Energy by 1.3% in the second quarter. Graham Capital Wealth Management LLC now owns 78,017 shares of the company’s stock valued at $2,081,000 after purchasing an additional 977 shares during the period. 87.92% of the stock is 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.