Coterra Energy (NYSE:CTRA) Given New $35.00 Price Target at Piper Sandler

Coterra Energy (NYSE:CTRA) had its target price boosted by investment analysts at Piper Sandler from $32.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 36.67% from the company’s current price.

Other research analysts have also issued research reports about the company. Barclays dropped their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Mizuho upped their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Susquehanna increased their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Wells Fargo & Company cut their price objective on Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $31.65.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $25.61 on Thursday. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90. The stock’s 50 day moving average is $23.86 and its 200-day moving average is $25.50. 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 firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.64 and a beta of 0.22.

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

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC increased its position in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC raised its stake in 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 buying an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Coterra Energy in the third quarter worth about $57,000. Tobam bought a new stake in Coterra Energy during the 3rd quarter valued at approximately $63,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after acquiring an additional 557 shares during the period. Hedge funds and other 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.