Coterra Energy (NYSE:CTRA) Price Target Cut to $32.00 by Analysts at BMO Capital Markets

Coterra Energy (NYSE:CTRA) had its price target cut by equities researchers at BMO Capital Markets from $33.00 to $32.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 24.23% from the stock’s previous close.

A number of other equities research analysts also recently commented on CTRA. William Blair initiated coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Mizuho cut their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 8th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $32.86.

Coterra Energy Price Performance

CTRA opened at $25.76 on Monday. The stock’s 50-day moving average price is $25.22 and its 200 day moving average price is $24.78. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $29.95. The firm has a market cap of $19.61 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.44 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results 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 11.23% and a net margin of 23.25%.The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts expect that Coterra Energy will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in shares of Coterra Energy during the second quarter worth approximately $26,000. REAP Financial Group LLC lifted its position in Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after purchasing an additional 726 shares during the period. Winnow Wealth LLC acquired a new position in Coterra Energy during the 3rd quarter worth approximately $29,000. Atlantic Union Bankshares Corp purchased a new position in shares of Coterra Energy during the 3rd quarter worth approximately $29,000. Finally, Triumph Capital Management purchased a new position in shares of Coterra Energy during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.