The Goldman Sachs Group Issues Pessimistic Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Key Points

• The Goldman Sachs Group has lowered its price target for Coterra Energy (NYSE:CTRA) from $30.00 to $29.00 and maintains a "neutral" rating, indicating a potential upside of 23.29% from its current stock price.
• Fifteen other research firms have recently given varying ratings on Coterra Energy, with a consensus average rating of "Moderate Buy" and a price target of $32.50.
• Coterra Energy's latest quarterly earnings report revealed an earnings per share (EPS) of $0.48, which missed analysts' expectations, although revenue increased by 54.6% year-over-year.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target dropped by The Goldman Sachs Group from $30.00 to $29.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target points to a potential upside of 23.29% from the stock's current price.

A number of other research firms also recently weighed in on CTRA. JPMorgan Chase & Co. raised their price target on Coterra Energy from $33.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, October 7th. Piper Sandler boosted their price target on Coterra Energy from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. UBS Group decreased their target price on Coterra Energy from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday. Wells Fargo & Company upped 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. Finally, Mizuho decreased their target price on Coterra Energy from $36.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Sixteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $32.50.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $23.52 on Wednesday. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 0.33 and a beta of 0.29. The stock's 50-day moving average is $23.87 and its 200-day moving average is $24.70. Coterra Energy has a one year low of $22.46 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly 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). The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business's revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share. Equities analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently modified their holdings of CTRA. Cornerstone Planning Group LLC lifted its position in shares of 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 buying an additional 555 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of 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 buying an additional 737 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Coterra Energy during the 2nd quarter worth approximately $26,000. REAP Financial Group LLC lifted its position in shares of Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock worth $28,000 after buying an additional 726 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Coterra Energy in the 1st quarter worth approximately $29,000. Institutional investors 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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