Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Truist Financial

Coterra Energy (NYSE:CTRA) had its price target hoisted by analysts at Truist Financial from $31.00 to $33.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 29.21% from the company’s current price.

Several other research firms also recently weighed in on CTRA. Stephens raised their target price on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group decreased their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Scotiabank dropped their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays raised their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Piper Sandler boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.88.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded up $0.14 on Thursday, reaching $25.54. The company’s stock had a trading volume of 1,337,819 shares, compared to its average volume of 6,225,205. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a market capitalization of $18.81 billion, a P/E ratio of 15.39, a PEG ratio of 1.64 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $23.86 and a 200-day moving average price of $25.50.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Analysts expect that Coterra Energy will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Coterra Energy

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after buying an additional 305,626 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares during the last quarter. King Luther Capital Management Corp grew its holdings in Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after acquiring an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after purchasing an additional 51,249 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.