Barclays Increases Coterra Energy (NYSE:CTRA) Price Target to $30.00

Coterra Energy (NYSE:CTRA – Get Rating) had its price target lifted by investment analysts at Barclays from $26.00 to $30.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 29.37% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Tudor Pickering downgraded Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Bank of America upgraded Coterra Energy from an “underperform” rating to a “neutral” rating and cut their price target for the company from $30.00 to $29.00 in a research note on Friday, January 6th. Raymond James downgraded Coterra Energy from an “outperform” rating to a “market perform” rating in a research note on Monday, February 6th. Tudor, Pickering, Holt & Co. downgraded Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Finally, Citigroup downgraded Coterra Energy from a “neutral” rating to a “sell” rating and cut their price target for the company from $27.00 to $23.00 in a research note on Wednesday, December 7th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Hold” and an average price target of $30.50.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $23.19 on Friday. Coterra Energy has a 1-year low of $22.25 and a 1-year high of $36.55. The business has a fifty day moving average price of $24.78 and a 200-day moving average price of $26.65. The company has a market capitalization of $17.82 billion, a PE ratio of 4.54, a PEG ratio of 0.15 and a beta of 0.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.85 and a quick ratio of 1.80.

Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Coterra Energy had a return on equity of 31.29% and a net margin of 44.91%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.15 billion. As a group, equities analysts expect that Coterra Energy will post 2.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently bought and sold shares of CTRA. Adirondack Trust Co. bought a new position in shares of Coterra Energy during the 4th quarter worth $25,000. Red Tortoise LLC bought a new position in shares of Coterra Energy during the 4th quarter worth $25,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Coterra Energy during the 4th quarter worth $25,000. ICA Group Wealth Management LLC bought a new position in shares of Coterra Energy during the 4th quarter worth $25,000. Finally, Accurate Wealth Management LLC bought a new position in shares of Coterra Energy during the 4th quarter worth $28,000. Institutional investors own 94.72% of the company’s stock.

About Coterra Energy

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.