Barclays Has Lowered Expectations for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target lowered by stock analysts at Barclays from $35.00 to $34.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 24.68% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial increased their target price on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Johnson Rice dropped their price target on shares of Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday. Piper Sandler lowered their target price on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Finally, Scotiabank set a $31.00 price target on Coterra Energy in a research note on Friday, January 16th. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $32.57.

Coterra Energy Price Performance

NYSE CTRA opened at $27.27 on Wednesday. The business’s fifty day moving average is $26.08 and its 200 day moving average is $24.79. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $29.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The company has a market capitalization of $20.76 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.36.

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

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently added to or reduced their stakes in CTRA. QRG Capital Management Inc. lifted its position in shares of Coterra Energy by 67.0% in the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after acquiring an additional 57,461 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after purchasing an additional 13,500 shares in the last quarter. Truist Financial Corp raised its stake in Coterra Energy by 165.3% in the 2nd 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 during the last quarter. Resona Asset Management Co. Ltd. raised its stake in Coterra Energy by 30.1% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock valued at $7,486,000 after purchasing an additional 68,100 shares during the last quarter. Finally, Strs Ohio lifted its holdings in Coterra Energy by 58.5% in the 2nd quarter. Strs Ohio now owns 87,745 shares of the company’s stock valued at $2,227,000 after purchasing an additional 32,376 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.