Coterra Energy (NYSE:CTRA) Given New $35.00 Price Target at Piper Sandler

Coterra Energy (NYSE:CTRA) had its target price hoisted by equities researchers at Piper Sandler from $32.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 36.99% from the company’s current price.

A number of other research firms have also weighed in on CTRA. Mizuho increased their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Wells Fargo & Company decreased their target price on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Two investment 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. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Stock Performance

Shares of CTRA opened at $25.55 on Thursday. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a market cap of $18.82 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $23.95 and a 200-day moving average price of $25.48.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $0.47 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently bought and sold shares of CTRA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Coterra Energy in the first quarter worth about $656,000. Quadrature Capital Ltd raised its stake in Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after acquiring an additional 38,278 shares during the period. CreativeOne Wealth LLC lifted its holdings in Coterra Energy by 130.3% during the first quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after purchasing an additional 32,173 shares in the last quarter. Raymond James & Associates increased its stake in shares of Coterra Energy by 5.0% in the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after purchasing an additional 56,748 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares during the period. 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.