Morgan Stanley Has Lowered Expectations for Coterra Energy (NYSE:CTRA) Stock Price

Key Points

• Morgan Stanley has reduced its price target for Coterra Energy (NYSE:CTRA) from $29.00 to $28.00, while maintaining an "equal weight" rating on the stock.
• Other firms like Scotiabank and UBS Group also lowered their price targets, indicating a consensus outlook of "Moderate Buy" for the stock, with a target price of approximately $32.95.
• Coterra Energy's shares recently traded at $23.07 and had a market capitalization of $17.61 billion, reflecting its ongoing financial performance and trading activity.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target decreased by equities researchers at Morgan Stanley from $29.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 21.35% from the company's previous close.

Other analysts also recently issued research reports about the stock. Scotiabank reduced their price objective on shares of 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. UBS Group cut their target price on Coterra Energy from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Coterra Energy in a report on Wednesday, October 8th. Barclays cut their target price on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, October 7th. Finally, 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 report on Monday. Fifteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.95.

Coterra Energy Price Performance

Shares of CTRA stock traded down $0.10 on Tuesday, reaching $23.07. The company had a trading volume of 3,462,589 shares, compared to its average volume of 7,257,158. The stock has a market capitalization of $17.61 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 0.32 and a beta of 0.29. 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 one year low of $22.46 and a one year high of $29.95. The business's 50-day moving average is $23.89 and its 200 day moving average is $24.71.

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 analysts' consensus estimates of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the company posted $0.37 EPS. The firm's revenue was up 54.6% compared to the same quarter last year. Equities research analysts forecast that Coterra Energy will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Coterra Energy

Several large investors have recently made changes to their positions in CTRA. Farther Finance Advisors LLC increased its position in shares of Coterra Energy by 58.6% during the 1st quarter. Farther Finance Advisors LLC now owns 11,978 shares of the company's stock valued at $348,000 after purchasing an additional 4,426 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Coterra Energy by 95.8% during the 1st quarter. GAMMA Investing LLC now owns 23,421 shares of the company's stock valued at $677,000 after purchasing an additional 11,459 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Coterra Energy by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,425 shares of the company's stock valued at $1,486,000 after purchasing an additional 1,037 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Coterra Energy by 9.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company's stock valued at $7,275,000 after purchasing an additional 21,733 shares during the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new stake in Coterra Energy in the 1st quarter worth about $237,000. 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.

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