Coterra Energy (NYSE:CTRA) Earns “Overweight” Rating from Piper Sandler

Coterra Energy (NYSE:CTRA)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a report issued on Monday, Benzinga reports. They currently have a $32.00 price objective on the stock, up from their prior price objective of $31.00. Piper Sandler’s target price would indicate a potential upside of 37.22% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Wolfe Research started coverage on shares of Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Truist Financial decreased their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Scotiabank decreased their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.29.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.32 on Monday. The company’s fifty day simple moving average is $23.75 and its 200-day simple moving average is $25.62. The company has a quick ratio of 1.38, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.24 billion, a PE ratio of 14.05, a P/E/G ratio of 1.40 and a beta of 0.22. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. Equities research analysts expect that Coterra Energy will post 1.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its holdings in shares of Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after acquiring an additional 399 shares during 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 worth $279,000 after acquiring an additional 404 shares during the last quarter. Redwood Wealth Management Group LLC lifted its holdings 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 worth $529,000 after acquiring an additional 429 shares during the last quarter. Cornercap Investment Counsel Inc. increased its stake in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after buying an additional 436 shares during the period. Finally, Bruce G. Allen Investments LLC increased its stake in shares of Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after buying an additional 450 shares during the period. 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.