Coterra Energy's (CTRA) Overweight Rating Reaffirmed at Piper Sandler

Coterra Energy (NYSE:CTRA - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Piper Sandler in a research report issued on Thursday, MarketBeat reports. They presently have a $37.00 price target on the stock, up from their previous price target of $36.00. Piper Sandler's price target would suggest a potential upside of 51.76% from the company's current price.

A number of other equities analysts have also weighed in on CTRA. Wells Fargo & Company reduced their target price on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Mizuho cut 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. Susquehanna cut their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Barclays boosted their target price on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, UBS Group dropped their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $33.16.

Coterra Energy Stock Down 0.3%

Shares of NYSE CTRA traded down $0.07 during mid-day trading on Thursday, reaching $24.38. 7,663,488 shares of the company traded hands, compared to its average volume of 6,564,631. The company's fifty day moving average is $25.30 and its two-hundred day moving average is $26.43. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. 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 stock has a market cap of $18.61 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The business had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $0.51 EPS. Coterra Energy's revenue was up 32.9% on a year-over-year basis. On average, analysts expect that Coterra Energy will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock worth $2,668,559,000 after buying an additional 3,818,700 shares in the last quarter. Wellington Management Group LLP increased its holdings in Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Coterra Energy by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,304,940 shares of the company's stock worth $731,313,000 after acquiring an additional 1,837,614 shares during the period. Geode Capital Management LLC raised its stake in Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company's stock worth $486,528,000 after buying an additional 96,059 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Coterra Energy by 5.7% during the 1st quarter. Victory Capital Management Inc. now owns 18,828,688 shares of the company's stock worth $544,149,000 after purchasing an additional 1,019,995 shares during the last quarter. 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.