Coterra Energy (NYSE:CTRA) Price Target Lowered to $38.00 at Piper Sandler

Key Points

• Coterra Energy has had its price target lowered from $39.00 to $38.00 by Piper Sandler, which maintains an "overweight" rating on the stock, indicating a potential upside of 62.97% from its previous close.
• Other analysts have also adjusted their price targets, with Scotiabank lowering theirs to $32.00, while Wells Fargo increased theirs slightly to $33.00, signifying a mix of buy and hold ratings among 22 analysts.
• The company's recent earnings report showed a miss in earnings per share but a revenue growth of 54.6% compared to the same quarter last year, indicating strong operational performance despite lower than expected profitability.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target lowered by equities researchers at Piper Sandler from $39.00 to $38.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price objective points to a potential upside of 62.97% from the stock's previous close.

CTRA has been the topic of several other reports. Scotiabank lowered their target price on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 9th. Siebert Williams Shank decreased their price target on shares of Coterra Energy from $35.00 to $32.00 and set a "buy" rating on the stock in a report on Monday, October 13th. Stephens decreased their price target on shares of Coterra Energy from $34.00 to $33.00 and set an "overweight" rating on the stock in a report on Tuesday. Wells Fargo & Company increased their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Roth Capital decreased their price target on shares of Coterra Energy from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Wednesday, October 15th. Sixteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $32.60.

Coterra Energy Trading Down 0.4%

Shares of CTRA stock opened at $23.32 on Tuesday. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $29.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The company has a 50-day simple moving average of $23.79 and a two-hundred day simple moving average of $24.55. The company has a market capitalization 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 released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion during 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 firm's revenue was up 54.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Research analysts anticipate that Coterra Energy will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CTRA. Cornerstone Planning Group LLC boosted its position in shares of Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Coterra Energy in the first quarter worth approximately $29,000. Bogart Wealth LLC bought a new position in shares of Coterra Energy in the second quarter worth approximately $26,000. Finally, REAP Financial Group LLC boosted its position in shares of Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock worth $28,000 after purchasing an additional 726 shares during the period. 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.