Piper Sandler Issues Pessimistic Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target lowered by equities researchers at Piper Sandler from $35.00 to $33.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 39.01% from the stock’s current price.

Several other analysts have also commented on CTRA. Stephens raised their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Barclays lifted their price target on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Mizuho increased their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Price Performance

Shares of CTRA opened at $23.74 on Tuesday. The company has a market capitalization of $17.49 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.64 and a beta of 0.27. The business’s 50-day moving average is $25.00 and its two-hundred day moving average is $25.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Research analysts predict that Coterra Energy will post 1.53 earnings per share for the current year.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the period. Hartford Funds Management Co LLC purchased a new position in Coterra Energy during the third quarter worth about $575,000. Barclays PLC boosted its stake in Coterra Energy by 3.1% during the third quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock worth $51,425,000 after buying an additional 64,753 shares during the period. HITE Hedge Asset Management LLC raised its stake in shares of Coterra Energy by 406.3% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company’s stock valued at $16,950,000 after acquiring an additional 567,934 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Coterra Energy by 5.0% in the 2nd quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock valued at $31,675,000 after acquiring an additional 56,748 shares during the period. Institutional investors and hedge funds 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.