Mizuho Lowers Coterra Energy (NYSE:CTRA) Price Target to $33.00

Key Points

• Mizuho has lowered its price target for Coterra Energy from $36.00 to $33.00, maintaining an "outperform" rating on the stock, indicating a potential upside of 35.94%.
• Coterra Energy recently reported earnings of $0.48 per share, missing estimates by $0.02, but had a revenue of $1.97 billion, surpassing expectations.
• Institutional investors own 87.92% of Coterra Energy's stock, with various firms adjusting their stakes in the company over the past quarter.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price objective lowered by Mizuho from $36.00 to $33.00 in a report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price target would suggest a potential upside of 35.94% from the stock's current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company increased their target price on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Pickering Energy Partners downgraded Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Barclays raised their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Scotiabank restated an "outperform" rating on shares of Coterra Energy in a research report on Friday, July 11th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, July 1st. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $33.22.

Coterra Energy Price Performance

CTRA stock traded down $0.09 during midday trading on Monday, hitting $24.28. The company's stock had a trading volume of 1,079,501 shares, compared to its average volume of 6,872,833. Coterra Energy has a 12 month low of $22.46 and a 12 month high of $29.95. 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 firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. The company has a 50 day moving average of $24.14 and a two-hundred day moving average of $25.30.

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

Institutional Investors Weigh In On Coterra Energy

Institutional investors have recently added to or reduced their stakes in the business. Donald L. Hagan LLC increased its position in shares of Coterra Energy by 1.1% during the first quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after purchasing an additional 401 shares in the last quarter. Investors Research Corp lifted its stake in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock worth $38,000 after purchasing an additional 408 shares in the last quarter. Saxon Interests Inc. lifted its stake in Coterra Energy by 5.1% in the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company's stock worth $269,000 after purchasing an additional 451 shares in the last quarter. Tectonic Advisors LLC lifted its stake in 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 purchasing an additional 459 shares in the last quarter. Finally, Procyon Advisors LLC lifted its stake in Coterra Energy by 3.6% in the 1st quarter. Procyon Advisors LLC now owns 13,460 shares of the company's stock worth $389,000 after purchasing an additional 469 shares in the last quarter. 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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