Coterra Energy (NYSE:CTRA) Given New $32.00 Price Target at UBS Group

Coterra Energy (NYSE:CTRA) had its target price boosted by equities research analysts at UBS Group from $29.00 to $32.00 in a note issued to investors on Monday, MarketBeat reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 21.95% from the company’s previous close.

Several other research firms have also recently commented on CTRA. Weiss Ratings reiterated a “hold (c-)” rating on shares of Coterra Energy in a research note on Wednesday, November 19th. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Stephens cut their target price on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. The Goldman Sachs Group decreased their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Finally, Morgan Stanley dropped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.67.

Coterra Energy Price Performance

Coterra Energy stock opened at $26.24 on Monday. The firm has a fifty day moving average of $24.33 and a 200-day moving average of $24.56. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $29.95. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $19.98 billion, a P/E ratio of 12.56, a PEG ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. As a group, analysts predict that Coterra Energy will post 1.54 EPS for the current year.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new stake in Coterra Energy during the third quarter valued at $2,490,000. Oarsman Capital Inc. boosted its holdings in shares of Coterra Energy by 8.5% in the 3rd quarter. Oarsman Capital Inc. now owns 35,796 shares of the company’s stock valued at $847,000 after buying an additional 2,817 shares during the period. WBI Investments LLC bought a new stake in shares of Coterra Energy during the 3rd quarter valued at about $291,000. Danske Bank A S acquired a new stake in Coterra Energy during the third quarter worth about $2,824,000. Finally, Provident Investment Management Inc. raised its stake in Coterra Energy by 3.6% during the third quarter. Provident Investment Management Inc. now owns 31,055 shares of the company’s stock worth $734,000 after acquiring an additional 1,075 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.