Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Wolfe Research Analyst Says

Coterra Energy (NYSE:CTRA) had its price objective hoisted by Wolfe Research from $32.00 to $33.00 in a research note issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s price objective would indicate a potential upside of 19.85% from the stock’s current price.

A number of other brokerages have also issued reports on CTRA. Johnson Rice decreased their price target on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Roth Mkm upped their price target on shares of Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Stephens decreased their price target on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Finally, UBS Group upped their price objective on Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.81.

Coterra Energy Stock Up 0.5%

Shares of NYSE CTRA opened at $27.53 on Monday. The firm has a market cap of $20.96 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 0.62 and a beta of 0.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $29.82. The firm’s 50 day moving average price is $26.15 and its 200 day moving average price is $24.83.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share 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 business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coterra Energy will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CTRA. Meritage Portfolio Management purchased a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $210,000. Benedict Financial Advisors Inc. boosted its stake in shares of Coterra Energy by 9.4% in the fourth quarter. Benedict Financial Advisors Inc. now owns 80,333 shares of the company’s stock valued at $2,114,000 after purchasing an additional 6,897 shares during the period. GF Fund Management CO. LTD. grew its holdings in Coterra Energy by 8.1% during the 4th quarter. GF Fund Management CO. LTD. now owns 236,278 shares of the company’s stock valued at $6,219,000 after purchasing an additional 17,688 shares in the last quarter. Juncture Wealth Strategies LLC purchased a new stake in Coterra Energy during the 4th quarter worth $203,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Coterra Energy by 0.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 819,712 shares of the company’s stock worth $21,575,000 after buying an additional 3,627 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Company Profile

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.