UBS Group Cuts Coterra Energy (NYSE:CTRA) Price Target to $29.00

Key Points

• UBS Group has lowered its price target for Coterra Energy (NYSE:CTRA) from $30.00 to $29.00 while maintaining a "buy" rating, indicating a potential upside of 27.84% from the stock's previous close.
• Other analysts have varied price targets, with Piper Sandler raising it to $39.00, while Barclays and Scotiabank have also adjusted their targets downward.
• Coterra Energy reported a revenue of $1.97 billion for the last quarter, which was above analyst estimates, though it missed the earnings per share projection by $0.02.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price objective cut by research analysts at UBS Group from $30.00 to $29.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has a "buy" rating on the stock. UBS Group's target price would indicate a potential upside of 27.84% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler raised their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Barclays reduced their price target on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 7th. Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Coterra Energy in a report on Wednesday, October 8th. Finally, Raymond James Financial restated an "outperform" rating and issued a $34.00 price objective (down from $38.00) on shares of Coterra Energy in a report on Thursday, September 11th. Fifteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus target price of $32.95.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $22.69 on Tuesday. Coterra Energy has a fifty-two week low of $22.46 and a fifty-two week high of $29.95. The company has a market cap of $17.31 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.32 and a beta of 0.29. The firm has a fifty day moving average price of $23.89 and a two-hundred day moving average price of $24.71. 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 released its quarterly earnings data 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 firm had revenue of $1.97 billion for 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 firm's revenue was up 54.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. Analysts expect that Coterra Energy will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock worth $2,416,939,000 after buying an additional 11,102,350 shares in the last quarter. Davis Selected Advisers acquired a new stake in shares of Coterra Energy in the second quarter valued at approximately $237,002,000. Vanguard Group Inc. raised its holdings in shares of Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock valued at $2,668,559,000 after purchasing an additional 3,818,700 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Coterra Energy by 5,145.4% in the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock valued at $89,592,000 after purchasing an additional 3,040,963 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Coterra Energy by 165.3% in the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company's stock valued at $106,934,000 after purchasing an additional 2,625,126 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

About Coterra Energy

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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