Barclays Boosts Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target hoisted by investment analysts at Barclays from $35.00 to $37.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 50.50% from the company's current price.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group restated a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a report on Tuesday, July 1st. Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a report on Tuesday, April 15th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, March 12th. Mizuho reduced their price target on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Raymond James Financial set a $38.00 target price on Coterra Energy and gave the company an "outperform" rating in a report on Friday, June 13th. Four 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.10.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $0.64 during mid-day trading on Monday, hitting $24.59. 3,345,593 shares of the stock were exchanged, compared to its average volume of 6,499,805. The stock's fifty day simple moving average is $25.20 and its two-hundred day simple moving average is $26.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The company has a market cap of $18.76 billion, a P/E ratio of 14.31, a PEG ratio of 0.34 and a beta of 0.35. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. The company's quarterly revenue was up 32.9% compared to the same quarter last year. As a group, analysts forecast that Coterra Energy will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Coterra Energy by 15.3% in the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. Vanguard Group Inc. increased its position in Coterra Energy by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Sterling Capital Management LLC raised its stake in Coterra Energy by 5,744.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock worth $93,520,000 after buying an additional 3,599,042 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Coterra Energy by 5,145.4% in the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock valued at $89,592,000 after acquiring an additional 3,040,963 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after purchasing an additional 2,600,801 shares in the last quarter. 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.

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