Coterra Energy (NYSE:CTRA) Price Target Cut to $33.00 by Analysts at Stephens

Key Points

• Analysts at Stephens have cut their price target on Coterra Energy from $34.00 to $33.00 while maintaining an "overweight" rating, indicating potential upside of 41.53% from the last closing price.
• Thirteen analysts have designated the stock with a Buy rating, while the stock has an average target price of $32.60 and an overall rating of "Moderate Buy."
• Coterra Energy's most recent earnings report showed a net margin of 23.80% and revenue growth of 54.6% year-over-year, despite EPS slightly missing consensus estimates.

Coterra Energy (NYSE:CTRA - Get Free Report) had its target price cut by analysts at Stephens from $34.00 to $33.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has an "overweight" rating on the stock. Stephens' price target points to a potential upside of 41.53% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Siebert Williams Shank cut their target price on Coterra Energy from $35.00 to $32.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Morgan Stanley cut their target price on Coterra Energy from $29.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 14th. Wells Fargo & Company increased their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Piper Sandler increased their price objective on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Roth Capital lowered their price objective on Coterra Energy from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, October 15th. Sixteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.60.

Coterra Energy Stock Down 0.4%

Shares of Coterra Energy stock opened at $23.32 on Tuesday. Coterra Energy has a one year low of $22.33 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The stock's 50-day moving average is $23.79 and its 200 day moving average is $24.55. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.34 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 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The firm's revenue for the quarter was up 54.6% on a year-over-year basis. Equities research analysts anticipate that Coterra Energy will post 1.54 EPS for the current year.

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Saxon Interests Inc. increased its position in shares of 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 during the last quarter. Trust Co. of Vermont increased its position in Coterra Energy by 1.5% in the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company's stock worth $729,000 after buying an additional 454 shares during the last quarter. Tectonic Advisors LLC increased its position in Coterra Energy by 3.2% in the first quarter. Tectonic Advisors LLC now owns 14,834 shares of the company's stock worth $429,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC increased its position in Coterra Energy by 2.1% in the third quarter. GAMMA Investing LLC now owns 22,763 shares of the company's stock worth $538,000 after buying an additional 462 shares during the last quarter. Finally, Hartford Funds Management Co LLC increased its position in Coterra Energy by 1.4% in the first 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 during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.