Piper Sandler Lowers Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its price objective lowered by analysts at Piper Sandler from $35.00 to $33.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 36.53% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup boosted their price objective on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Scotiabank decreased their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.53.

Coterra Energy Trading Down 2.3 %

CTRA stock traded down $0.56 during trading on Tuesday, hitting $24.17. 1,640,342 shares of the company traded hands, compared to its average volume of 6,185,926. The company has a 50-day moving average of $25.00 and a 200-day moving average of $25.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $28.90. The firm has a market capitalization of $17.80 billion, a PE ratio of 14.56, a P/E/G ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in Coterra Energy by 40.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,194,064 shares of the company’s stock worth $29,147,000 after purchasing an additional 341,180 shares during the period. Synovus Financial Corp increased its position in Coterra Energy by 16.0% in the third quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock worth $379,000 after purchasing an additional 2,184 shares during the last quarter. Tidal Investments LLC raised its stake in Coterra Energy by 19.9% during the third quarter. Tidal Investments LLC now owns 143,947 shares of the company’s stock valued at $3,448,000 after purchasing an additional 23,844 shares in the last quarter. Blankinship & Foster LLC purchased a new stake in Coterra Energy during the third quarter valued at $1,420,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Coterra Energy during the third quarter valued at $621,000. Hedge funds and other 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.