Coterra Energy (NYSE:CTRA) Price Target Cut to $32.00 by Analysts at Siebert Williams Shank

Key Points

• Coterra Energy had its price target reduced from $35.00 to $32.00 by Siebert Williams Shank, maintaining a "buy" rating, indicating a potential upside of 41.06% from the current stock price.
• Multiple analysts have adjusted their price forecasts, with UBS lowering it to $29.00 and JPMorgan Chase increasing it to $35.00, reflecting a diverse range of opinions on the stock's future.
• Despite missing earnings projections, Coterra Energy's quarterly revenue increased by 54.6% year-over-year, showcasing robust growth potential in the oil and gas sector.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target decreased by equities researchers at Siebert Williams Shank from $35.00 to $32.00 in a research report issued on Monday,MarketScreener reports. The brokerage currently has a "buy" rating on the stock. Siebert Williams Shank's price objective points to a potential upside of 41.06% from the stock's current price.

Several other analysts have also issued reports on the stock. UBS Group reduced their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Coterra Energy from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. Scotiabank lowered their price objective on Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 9th. Barclays lowered their price objective on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Finally, Raymond James Financial restated an "outperform" rating and set a $34.00 target price (down previously from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and an average target price of $32.95.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $22.69 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy has a twelve month low of $22.46 and a twelve month high of $29.95. The business has a 50-day moving average price of $23.89 and a 200 day moving average price of $24.71. The firm has a market cap of $17.31 billion, a PE ratio of 10.84, a P/E/G ratio of 0.32 and a beta of 0.29.

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

Institutional Trading of Coterra Energy

A number of large investors have recently made changes to their positions in CTRA. Brighton Jones LLC purchased a new stake in Coterra Energy in the 3rd quarter worth approximately $580,000. Perpetual Ltd purchased a new position in Coterra Energy during the third quarter worth about $703,000. Cascade Investment Advisors Inc. lifted its position in Coterra Energy by 4.7% during the third quarter. Cascade Investment Advisors Inc. now owns 55,030 shares of the company's stock worth $1,301,000 after buying an additional 2,480 shares during the period. Board of the Pension Protection Fund purchased a new position in Coterra Energy during the third quarter worth about $823,000. Finally, Sky Investment Group LLC lifted its position in Coterra Energy by 5.7% during the third quarter. Sky Investment Group LLC now owns 15,067 shares of the company's stock worth $356,000 after buying an additional 818 shares during the period. Institutional investors and hedge funds 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.

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