Morgan Stanley Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price objective raised by equities researchers at Morgan Stanley from $27.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 14.17% from the company’s previous close.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Susquehanna upped their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday. Scotiabank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Truist Financial boosted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Mizuho raised their target price on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Coterra Energy Price Performance

Coterra Energy stock traded down $0.21 during mid-day trading on Thursday, reaching $25.40. The company had a trading volume of 1,714,157 shares, compared to its average volume of 6,227,667. The business has a fifty day simple moving average of $23.86 and a 200 day simple moving average of $25.50. The company has a market cap of $18.71 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.64 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that Coterra Energy will post 1.53 earnings per share for the current year.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in shares of Coterra Energy by 160.1% during the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after purchasing an additional 1,784,192 shares in the last quarter. Marshall Wace LLP boosted its holdings in Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after acquiring an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC bought a new position in Coterra Energy in the first quarter worth approximately $28,967,000. American Century Companies Inc. grew its stake in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Coterra Energy by 395.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 899,838 shares of the company’s stock valued at $21,551,000 after acquiring an additional 718,182 shares in the last quarter. 87.92% of the stock is currently 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.