Coterra Energy (NYSE:CTRA) PT Lowered to $26.00

Coterra Energy (NYSE:CTRA) had its price target decreased by JPMorgan Chase & Co. from $31.00 to $26.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.14% from the stock’s current price.

CTRA has been the subject of several other reports. Truist Financial lowered their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Wolfe Research began coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Bank of America reaffirmed a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a report on Friday, June 14th. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Two equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.88.

Coterra Energy Price Performance

Shares of CTRA stock opened at $22.78 on Thursday. The company’s fifty day simple moving average is $24.84 and its two-hundred day simple moving average is $26.51. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a market cap of $16.95 billion, a P/E ratio of 13.17, a PEG ratio of 1.16 and a beta of 0.22. Coterra Energy has a 52 week low of $22.30 and a 52 week 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 analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. Coterra Energy’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Analysts predict that Coterra Energy will post 1.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in shares of Coterra Energy by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after buying an additional 399 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock valued at $279,000 after purchasing an additional 404 shares in the last quarter. Redwood Wealth Management Group LLC grew its position in shares of Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after purchasing an additional 429 shares during the last quarter. Cornercap Investment Counsel Inc. increased its stake in shares of Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares in the last quarter. Finally, Quent Capital LLC raised its position in shares of Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock worth $165,000 after purchasing an additional 445 shares during the last quarter. 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.