Coterra Energy (NYSE:CTRA) Earns Outperform Rating from Analysts at William Blair

Investment analysts at William Blair began coverage on shares of Coterra Energy (NYSE:CTRA) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “outperform” rating on the stock.

Several other analysts also recently commented on the company. Barclays reduced their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. UBS Group boosted their target price on Coterra Energy from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday. Siebert Williams Shank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Stephens cut their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group dropped their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.86.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $26.42 on Wednesday. The firm’s fifty day simple moving average is $24.40 and its 200-day simple moving average is $24.59. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $29.95. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.36 and a beta of 0.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.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 previous year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities analysts forecast that Coterra Energy will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after acquiring an additional 11,102,350 shares during the period. Davis Selected Advisers acquired a new stake in Coterra Energy in the second quarter valued at $237,002,000. Vanguard Group Inc. increased its position in shares of Coterra Energy by 4.3% in the first quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company’s stock valued at $2,668,559,000 after buying an additional 3,818,700 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Coterra Energy by 287.7% in the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock valued at $108,154,000 after buying an additional 3,393,697 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Coterra Energy by 165.3% during the 2nd quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after buying an additional 2,625,126 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.