Coterra Energy (NYSE:CTRA) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• Coterra Energy has been downgraded to a "Strong Sell" rating by Zacks Research, which reflects a significant shift in analyst sentiment regarding the stock.
• The company reported a missed earnings estimate for the last quarter, with an EPS of $0.48 compared to the consensus estimate of $0.50, although revenues increased by 54.6% year-over-year.
• Coterra Energy currently has an average rating of "Moderate Buy" among analysts, with a price target averaging approximately $32.95.

Coterra Energy (NYSE:CTRA - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

CTRA has been the subject of several other research reports. Weiss Ratings restated a "hold (c)" rating on shares of Coterra Energy in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $31.00 price objective on shares of Coterra Energy in a research note on Tuesday, July 1st. Barclays reduced their price objective on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. Finally, Morgan Stanley reduced their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $32.95.

Coterra Energy Price Performance

Coterra Energy stock opened at $23.23 on Monday. Coterra Energy has a 52 week low of $22.46 and a 52 week high of $29.95. The company's 50 day moving average price is $23.87 and its two-hundred day moving average price is $24.70. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The stock has a market cap of $17.72 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.33 and a beta of 0.29.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business earned $0.37 EPS. Coterra Energy's quarterly revenue was up 54.6% compared to the same quarter last year. On average, equities analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Institutional Trading of Coterra Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Saxon Interests Inc. grew its stake in Coterra Energy by 5.1% during the first quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock valued at $269,000 after acquiring an additional 451 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Coterra Energy by 1.5% in the 3rd quarter. Trust Co. of Vermont now owns 30,832 shares of the company's stock worth $729,000 after buying an additional 454 shares in the last quarter. Tectonic Advisors LLC grew its stake in shares of Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock worth $429,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Coterra Energy by 2.1% in the 3rd quarter. GAMMA Investing LLC now owns 22,763 shares of the company's stock worth $538,000 after buying an additional 462 shares in the last quarter. Finally, Hartford Funds Management Co LLC grew its stake in shares of Coterra Energy by 1.4% in the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company's stock worth $1,020,000 after buying an additional 472 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

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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