Coterra Energy (NYSE:CTRA) Given New $34.00 Price Target at Barclays

Coterra Energy (NYSE:CTRA) had its target price decreased by equities researchers at Barclays from $35.00 to $34.00 in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 26.71% from the stock’s previous close.

CTRA has been the subject of several other reports. UBS Group increased their price objective on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Johnson Rice lowered their target price on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. BMO Capital Markets decreased their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a report on Monday, December 15th. Roth Capital restated a “buy” rating and issued a $27.00 price target on shares of Coterra Energy in a report on Tuesday, November 4th. Finally, Raymond James Financial raised their target price on shares of Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.57.

Coterra Energy Price Performance

NYSE:CTRA traded up $0.61 during mid-day trading on Wednesday, reaching $26.83. 718,217 shares of the stock were exchanged, compared to its average volume of 11,785,073. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average price of $26.04 and a 200 day moving average price of $24.76. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $29.82. The firm has a market capitalization of $20.43 billion, a PE ratio of 12.38, a PEG ratio of 0.53 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. Research 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 large investors have recently modified their holdings of CTRA. Bogart Wealth LLC bought a new position in Coterra Energy during the 2nd quarter worth approximately $26,000. GoalVest Advisory LLC bought a new position in Coterra Energy in the 4th quarter valued at about $28,000. REAP Financial Group LLC lifted its stake in Coterra Energy by 190.1% during the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after acquiring an additional 726 shares in the last quarter. Winnow Wealth LLC purchased a new position in Coterra Energy during the third quarter worth about $29,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Coterra Energy in the third quarter worth $29,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.