Scotiabank Boosts Coterra Energy (NYSE:CTRA) Price Target to $35.00

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target increased by analysts at Scotiabank from $33.00 to $35.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's target price indicates a potential upside of 38.75% from the company's previous close.

A number of other analysts have also recently commented on CTRA. Bank of America dropped their price objective on Coterra Energy from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a research report on Tuesday, May 20th. Susquehanna dropped their price objective on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Finally, Mizuho decreased their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.20.

Coterra Energy Price Performance

Coterra Energy stock traded up $0.13 during trading hours on Friday, hitting $25.23. The stock had a trading volume of 1,226,772 shares, compared to its average volume of 7,114,356. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.86. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.35 and a beta of 0.35. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The stock's fifty day moving average is $25.19 and its two-hundred day moving average is $26.44.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. Coterra Energy's revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC boosted its position in Coterra Energy by 175.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock worth $25,000 after acquiring an additional 555 shares during the period. Raleigh Capital Management Inc. boosted its position in Coterra Energy by 463.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after acquiring an additional 737 shares during the period. Banque Cantonale Vaudoise acquired a new position in Coterra Energy during the 1st quarter worth $29,000. Wayfinding Financial LLC acquired a new position in Coterra Energy during the 1st quarter worth $34,000. Finally, Investors Research Corp raised its stake in shares of 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 buying an additional 408 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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