Coterra Energy (NYSE:CTRA) Price Target Cut to $34.00 by Analysts at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $35.00 to $34.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 27.80% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Siebert Williams Shank dropped their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating for the company in a report on Monday, October 13th. UBS Group lowered their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Morgan Stanley cut their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a report on Wednesday, October 8th. Finally, Scotiabank dropped their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 9th. Seventeen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

Coterra Energy Stock Up 0.9%

NYSE CTRA opened at $26.61 on Wednesday. The business has a fifty day moving average price of $23.92 and a two-hundred day moving average price of $24.46. The stock has a market capitalization of $20.30 billion, a PE ratio of 12.73, a PEG ratio of 0.36 and a beta of 0.30. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $29.95. 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 posted its quarterly earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 $558.00 million for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the firm posted $0.32 EPS. Coterra Energy’s quarterly revenue was up 33.7% on a year-over-year basis. Equities analysts expect that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently made changes to their positions in CTRA. Bogart Wealth LLC bought a new position in shares of Coterra Energy during the 2nd quarter valued at approximately $26,000. REAP Financial Group LLC raised its holdings in shares of Coterra Energy by 190.1% in the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock worth $28,000 after purchasing an additional 726 shares during the period. Banque Cantonale Vaudoise purchased a new position in Coterra Energy in the first quarter valued at approximately $29,000. Winnow Wealth LLC bought a new position in Coterra Energy during the third quarter valued at $29,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Coterra Energy in the third quarter worth $29,000. 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.