Coterra Energy (NYSE:CTRA) Upgraded at Roth Mkm

Coterra Energy (NYSE:CTRA) was upgraded by equities research analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, FinViz reports. The firm presently has a $29.00 target price on the stock, up from their prior target price of $25.00. Roth Mkm’s price objective indicates a potential upside of 19.83% from the stock’s current price.

CTRA has been the subject of several other reports. Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. UBS Group lowered their price target on Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Citigroup raised their price objective on Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 24th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Finally, Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.29.

Coterra Energy Stock Performance

CTRA opened at $24.20 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. Coterra Energy has a 52-week low of $23.18 and a 52-week high of $29.89. The firm has a market cap of $18.01 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. The business’s fifty day moving average is $25.72 and its 200-day moving average is $26.66.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. Sell-side analysts expect that Coterra Energy will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in Coterra Energy in the fourth quarter worth $1,396,000. Federated Hermes Inc. raised its stake in Coterra Energy by 54.9% during the 4th quarter. Federated Hermes Inc. now owns 22,854 shares of the company’s stock worth $583,000 after buying an additional 8,099 shares during the period. Headlands Technologies LLC boosted its holdings in Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after acquiring an additional 1,392 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Coterra Energy by 1.2% in the fourth quarter. Russell Investments Group Ltd. now owns 778,363 shares of the company’s stock valued at $19,865,000 after acquiring an additional 9,487 shares during the period. Finally, Certuity LLC increased its holdings in shares of Coterra Energy by 44.3% during the fourth quarter. Certuity LLC now owns 10,782 shares of the company’s stock valued at $275,000 after acquiring an additional 3,308 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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.