Coterra Energy (NYSE:CTRA) Price Target Raised to $33.00 at Wolfe Research

Coterra Energy (NYSE:CTRA) had its price target hoisted by stock analysts at Wolfe Research from $32.00 to $33.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the stock. Wolfe Research’s price objective points to a potential upside of 20.33% from the company’s current price.

Several other research firms have also issued reports on CTRA. Susquehanna restated a “positive” rating on shares of Coterra Energy in a research report on Monday. Roth Mkm lifted their price target on shares of Coterra Energy from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Scotiabank set a $31.00 price objective on Coterra Energy in a report on Friday, January 16th. Stephens decreased their price target on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Finally, Barclays dropped their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.76.

Coterra Energy Trading Up 0.0%

Shares of CTRA opened at $27.42 on Monday. The stock’s fifty day simple moving average is $26.10 and its 200-day simple moving average is $24.80. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $20.88 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.61 and a beta of 0.36. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $29.82.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. As a group, research analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Institutional Trading of Coterra Energy

Several institutional investors have recently added to or reduced their stakes in CTRA. QRG Capital Management Inc. grew its stake in shares of Coterra Energy by 67.0% during the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after buying an additional 57,461 shares during the last quarter. State of Michigan Retirement System increased its holdings in Coterra Energy by 5.8% in the 2nd quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after purchasing an additional 13,500 shares in the last quarter. Truist Financial Corp raised its stake in shares of Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock valued at $106,934,000 after acquiring an additional 2,625,126 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in shares of Coterra Energy by 30.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock valued at $7,486,000 after purchasing an additional 68,100 shares during the period. Finally, Strs Ohio increased its holdings in Coterra Energy by 58.5% during the 2nd quarter. Strs Ohio now owns 87,745 shares of the company’s stock worth $2,227,000 after purchasing an additional 32,376 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

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.