Susquehanna Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its target price lifted by equities research analysts at Susquehanna from $30.00 to $33.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target points to a potential upside of 29.16% from the stock’s previous close.

Several other research firms have also weighed in on CTRA. UBS Group dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wolfe Research assumed coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Scotiabank dropped 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 research note on Thursday, October 10th. Piper Sandler restated an “overweight” rating and issued a $32.00 price target (up previously from $31.00) on shares of Coterra Energy in a research note on Monday, November 4th. Finally, Morgan Stanley dropped their price target on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

Coterra Energy Trading Up 0.5 %

CTRA stock opened at $25.55 on Thursday. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.67 and a beta of 0.22. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $23.95 and a 200-day simple moving average of $25.48. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90.

Coterra Energy (NYSE:CTRA) last posted 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). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts expect that Coterra Energy will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after acquiring an additional 285,774 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of Coterra Energy by 5.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,348,026 shares of the company’s stock worth $128,085,000 after acquiring an additional 284,106 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Company Profile

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.