Coterra Energy’s (CTRA) “Overweight” Rating Reiterated at Piper Sandler

Coterra Energy (NYSE:CTRA)‘s stock had its “overweight” rating reissued by Piper Sandler in a research report issued on Monday, Benzinga reports. They currently have a $32.00 target price on the stock, up from their previous target price of $31.00. Piper Sandler’s price objective indicates a potential upside of 38.17% from the company’s previous close.

CTRA has been the subject of a number of other research reports. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays dropped their price target on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Stephens raised their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday. Scotiabank lowered their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Susquehanna cut their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Two equities 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 stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.29.

Coterra Energy Price Performance

Shares of NYSE CTRA traded up $0.45 during midday trading on Monday, hitting $23.16. The stock had a trading volume of 3,039,439 shares, compared to its average volume of 6,213,314. 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 50 day simple moving average of $23.79 and a 200-day simple moving average of $25.68. The company has a market capitalization of $17.12 billion, a PE ratio of 13.96, a P/E/G ratio of 1.47 and a beta of 0.22. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share 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 9.37%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts expect that Coterra Energy will post 1.62 EPS for the current fiscal year.

Institutional Trading of Coterra Energy

Hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC raised its holdings in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Coterra Energy during the 1st quarter worth $44,000. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy during the 3rd quarter worth $57,000. Finally, Tobam purchased a new position in Coterra Energy in the third quarter valued at $63,000. Institutional investors and hedge funds 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.