Susquehanna Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its price objective hoisted by research analysts at Susquehanna from $30.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 28.86% from the company’s previous close.

Several other analysts have also recently commented on CTRA. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Wolfe Research began coverage on Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price for the company. JPMorgan Chase & Co. cut their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company lowered their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Barclays decreased their price objective on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. 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 has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Coterra Energy Stock Performance

NYSE CTRA opened at $25.61 on Thursday. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.64 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a 50 day moving average of $23.86 and a 200-day moving average of $25.50.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $0.47 EPS. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Coterra Energy

Institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its stake in Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares during the last quarter. TCW Group Inc. raised its holdings in shares of Coterra Energy by 4.0% during the 2nd quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after buying an additional 404 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in shares of Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after buying an additional 436 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after buying an additional 450 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Coterra Energy by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after acquiring an additional 474 shares during the last quarter. 87.92% of the stock is currently 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.