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

Coterra Energy (NYSE:CTRA) had its price objective raised by equities researchers at Barclays from $31.00 to $33.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 29.16% from the stock’s current price.

Several other analysts also recently commented on the company. Morgan Stanley reduced their price objective on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company reduced their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Roth Capital raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Stephens upped their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Mizuho upped their price objective on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Trading Up 0.5 %

Shares of NYSE CTRA opened at $25.55 on Thursday. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $23.95 and a 200-day simple moving average of $25.48. The stock has a market capitalization of $18.82 billion, a PE ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The company’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 year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC increased its position in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC increased its position 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 worth $29,000 after acquiring an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new position in Coterra Energy during the third quarter valued at approximately $57,000. Tobam purchased a new position in Coterra Energy during the third quarter valued at approximately $63,000. Finally, EverSource Wealth Advisors LLC grew its position in Coterra Energy by 31.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Company Profile

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.