Coterra Energy (NYSE:CTRA) Price Target Cut to $32.00 by Analysts at Wells Fargo & Company

Coterra Energy (NYSE:CTRA) had its price target reduced by Wells Fargo & Company from $34.00 to $32.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 30.72% from the stock’s previous close.

A number of other research firms have also recently issued reports on CTRA. Truist Financial reduced their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley decreased their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Bank of America reaffirmed a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research report on Friday, June 14th. Finally, Wolfe Research initiated coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.53.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $24.48 on Tuesday. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.37 and a beta of 0.22. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.89. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $23.98 and a 200 day simple moving average of $26.26.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. As a group, sell-side analysts predict that Coterra Energy will post 1.74 earnings per share for the current fiscal year.

Institutional Trading of Coterra Energy

A number of hedge funds have recently bought and sold shares of CTRA. Fortitude Family Office LLC raised its position in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC increased its stake in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the period. Central Pacific Bank Trust Division acquired a new position in Coterra Energy in the 1st quarter valued at approximately $44,000. Harbor Investment Advisory LLC lifted its position in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Coterra Energy during the 1st quarter worth approximately $47,000. 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.