Coterra Energy's (CTRA) "Outperform" Rating Reaffirmed at Raymond James Financial

Key Points

• Raymond James Financial has maintained its "outperform" rating on Coterra Energy (NYSE:CTRA) but has lowered its price target from $38.00 to $34.00, indicating a potential upside of approximately 39.77% from current levels.
• In the latest quarter, Coterra Energy reported earnings of $0.48 per share, missing the consensus estimate, but its revenue increased by 54.6% year-over-year, reaching $1.97 billion.
• The stock has a market capitalization of $18.56 billion and trading range over the past year has been between $22.41 and $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Raymond James Financial in a report issued on Thursday,Benzinga reports. They currently have a $34.00 price objective on the stock, down from their previous price objective of $38.00. Raymond James Financial's price target would suggest a potential upside of 39.59% from the company's current price.

A number of other brokerages have also weighed in on CTRA. Pickering Energy Partners lowered Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group restated a "neutral" rating and set a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, July 1st. Piper Sandler lifted their price target on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Barclays boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average target price of $33.22.

Coterra Energy Trading Up 0.7%

CTRA traded up $0.18 on Thursday, hitting $24.36. 2,052,184 shares of the company were exchanged, compared to its average volume of 6,871,541. The stock has a market capitalization of $18.59 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 0.34 and a beta of 0.34. Coterra Energy has a 12 month low of $22.46 and a 12 month high of $29.95. The firm has a fifty day simple moving average of $24.12 and a two-hundred day simple moving average of $25.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data 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 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%.Coterra Energy's quarterly revenue was up 54.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. Sell-side analysts expect that Coterra Energy will post 1.54 earnings per share for the current year.

Institutional Trading of Coterra Energy

Institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its position in shares of Coterra Energy by 175.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after purchasing an additional 555 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Coterra Energy by 463.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock valued at $26,000 after buying an additional 737 shares during the period. Bogart Wealth LLC purchased a new position in shares of Coterra Energy in the 2nd quarter valued at about $26,000. REAP Financial Group LLC increased its stake in shares of Coterra Energy by 190.1% in the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock valued at $28,000 after purchasing an additional 726 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Coterra Energy during the 1st quarter worth approximately $29,000. 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.