Zacks Research Downgrades Coterra Energy (NYSE:CTRA) to Strong Sell

Coterra Energy (NYSE:CTRA) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Susquehanna decreased their price objective on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Raymond James Financial upped their price objective on shares of Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Wolfe Research reduced their target price on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. Finally, UBS Group boosted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.62.

Coterra Energy Trading Up 1.9%

Shares of Coterra Energy stock opened at $26.20 on Monday. The firm’s 50 day simple moving average is $26.04 and its two-hundred day simple moving average is $24.76. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.53 and a beta of 0.36. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $29.82. 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 posted 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). Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Analysts predict that Coterra Energy will post 1.54 EPS for the current year.

Institutional Trading of Coterra Energy

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the period. State Street Corp raised its position in Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after acquiring an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after purchasing an additional 1,495,553 shares during the period. Victory Capital Management Inc. increased its stake in shares of Coterra Energy by 2.5% during the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock worth $510,410,000 after purchasing an additional 534,132 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Coterra Energy by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock worth $522,936,000 after purchasing an additional 953,824 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

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.