Coterra Energy (NYSE:CTRA) Price Target Raised to $36.00 at Mizuho

Coterra Energy (NYSE:CTRA) had its price objective upped by Mizuho from $33.00 to $36.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 39.97% from the company’s previous close.

CTRA has been the topic of several other research reports. Johnson Rice reduced their price target on shares of Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Morgan Stanley reduced their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Wolfe Research lowered their price target on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Roth Capital reaffirmed a “buy” rating and set a $27.00 price objective on shares of Coterra Energy in a report on Tuesday, November 4th. Finally, Siebert Williams Shank decreased their price objective on Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Sixteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $32.67.

Coterra Energy Price Performance

Shares of CTRA traded up $0.36 during trading hours on Thursday, hitting $25.72. The stock had a trading volume of 40,118,947 shares, compared to its average volume of 12,162,611. The stock has a market capitalization of $19.58 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.41 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The company’s fifty day moving average is $26.09 and its two-hundred day moving average is $24.74. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. Coterra Energy’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. On average, analysts anticipate that Coterra Energy will post 1.54 EPS for the current year.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Michigan Retirement System grew its position in Coterra Energy by 5.8% in the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock valued at $6,204,000 after purchasing an additional 13,500 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Coterra Energy by 165.3% during the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares during the last quarter. Resona Asset Management Co. Ltd. grew its holdings in shares of Coterra Energy by 30.1% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock valued at $7,486,000 after acquiring an additional 68,100 shares in the last quarter. Strs Ohio grew its holdings in shares of Coterra Energy by 58.5% in the 2nd quarter. Strs Ohio now owns 87,745 shares of the company’s stock valued at $2,227,000 after acquiring an additional 32,376 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Coterra Energy by 43.2% in the second quarter. Nordea Investment Management AB now owns 57,542 shares of the company’s stock valued at $1,468,000 after acquiring an additional 17,373 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.