Stephens Raises Coterra Energy (NYSE:CTRA) Price Target to $34.00

Coterra Energy (NYSE:CTRA) had its price objective increased by Stephens from $33.00 to $34.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price indicates a potential upside of 17.89% from the company’s previous close.

Other analysts have also issued research reports about the stock. Siebert Williams Shank lifted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, January 26th. William Blair initiated coverage on shares of Coterra Energy in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price target for the company. Roth Mkm upped their price objective on shares of Coterra Energy from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, UBS Group lifted their price target on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.81.

Coterra Energy Stock Up 2.8%

Shares of NYSE:CTRA opened at $28.84 on Thursday. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $29.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The business’s 50-day moving average is $26.31 and its 200-day moving average is $24.90. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.66 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Equities research analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after acquiring an additional 3,781,606 shares during the period. State Street Corp grew its position in shares of Coterra Energy by 0.9% during the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after acquiring an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 5.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Coterra Energy by 2.5% in the 3rd quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock worth $510,410,000 after purchasing an additional 534,132 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Coterra Energy by 4.8% in the second quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after purchasing an additional 953,824 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.