Wells Fargo & Company Raises Coterra Energy (NYSE:CTRA) Price Target to $35.00

Coterra Energy (NYSE:CTRA) had its target price increased by research analysts at Wells Fargo & Company from $32.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 37.25% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Truist Financial raised their price objective on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley lifted their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday. Mizuho increased their target price on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wolfe Research assumed coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, UBS Group increased their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Up 0.3 %

Shares of NYSE CTRA traded up $0.07 during midday trading on Friday, hitting $25.50. The stock had a trading volume of 4,496,797 shares, compared to its average volume of 6,237,759. The company has a market cap of $18.78 billion, a P/E ratio of 15.36, a PEG ratio of 1.67 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 business’s 50 day moving average is $23.86 and its 200-day moving average is $25.50. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CTRA. Holocene Advisors LP boosted its position in Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after buying an additional 2,954,675 shares during the period. Bank of Montreal Can boosted its holdings in Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after purchasing an additional 1,784,192 shares during the period. Marshall Wace LLP grew its stake in Coterra Energy by 5,325.5% during the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after purchasing an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in Coterra Energy during the 1st quarter worth about $28,967,000. Finally, American Century Companies Inc. raised its position in Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.