Mizuho Increases Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its target price raised by investment analysts at Mizuho from $36.00 to $37.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 62.85% from the stock’s previous close.

Several other brokerages also recently weighed in on CTRA. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Piper Sandler cut their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Truist Financial decreased their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Wells Fargo & Company cut their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.82.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded down $1.20 during midday trading on Friday, hitting $22.72. 6,977,051 shares of the stock were exchanged, compared to its average volume of 6,206,310. The stock has a market cap of $16.80 billion, a P/E ratio of 12.96, a PEG ratio of 1.49 and a beta of 0.22. 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 company has a 50 day moving average price of $23.82 and a 200-day moving average price of $25.73. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts forecast that Coterra Energy will post 1.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake 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 purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Coterra Energy by 98.0% in 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 in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Coterra Energy during the first quarter valued at approximately $44,000. Values First Advisors Inc. bought a new stake in Coterra Energy during the third quarter worth approximately $57,000. Finally, Tobam acquired a new stake in Coterra Energy in the third quarter worth approximately $63,000. Institutional investors own 87.92% of the company’s stock.

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.