Coterra Energy (NYSE:CTRA – Get Rating) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Friday, MarketBeat.com reports. The firm presently has a $29.00 price target on the stock, down from their previous price target of $30.00. Bank of America‘s price target would suggest a potential upside of 22.52% from the company’s current price.
Several other brokerages also recently issued reports on CTRA. Mizuho reduced their target price on Coterra Energy from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Citigroup cut Coterra Energy from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $27.00 to $23.00 in a research report on Wednesday, December 7th. Piper Sandler reduced their target price on Coterra Energy from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, November 17th. Barclays reduced their target price on Coterra Energy from $39.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 7th. Finally, Raymond James cut their price objective on Coterra Energy from $42.00 to $36.00 and set an “outperform” rating for the company in a report on Monday, October 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.73.
Coterra Energy Trading Down 1.3 %
Shares of CTRA stock opened at $23.67 on Friday. Coterra Energy has a 12 month low of $18.39 and a 12 month high of $36.55. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $26.57 and its two-hundred day moving average is $27.89. The company has a market cap of $18.66 billion, a PE ratio of 4.78, a price-to-earnings-growth ratio of 0.11 and a beta of 0.25.
Coterra Energy (NYSE:CTRA – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.05. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.43 billion. Coterra Energy had a net margin of 44.15% and a return on equity of 29.82%. Equities analysts predict that Coterra Energy will post 4.88 EPS for the current year.
Insider Transactions at Coterra Energy
In other news, Director Hans Helmerich sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $27.64, for a total transaction of $138,200.00. Following the completion of the transaction, the director now directly owns 225,755 shares in the company, valued at approximately $6,239,868.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.
Hedge Funds Weigh In On Coterra Energy
Several institutional investors and hedge funds have recently modified their holdings of CTRA. Patriot Financial Group Insurance Agency LLC grew its position in shares of Coterra Energy by 239.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,106 shares of the company’s stock valued at $29,000 after purchasing an additional 780 shares during the period. First Horizon Advisors Inc. lifted its stake in Coterra Energy by 100.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,164 shares of the company’s stock valued at $30,000 after acquiring an additional 583 shares in the last quarter. Guardian Wealth Advisors LLC bought a new stake in Coterra Energy in the 3rd quarter valued at approximately $30,000. Achmea Investment Management B.V. bought a new stake in Coterra Energy in the 1st quarter valued at approximately $41,000. Finally, McIlrath & Eck LLC lifted its stake in Coterra Energy by 703.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,599 shares of the company’s stock valued at $42,000 after acquiring an additional 1,400 shares in the last quarter. 94.72% of the stock is currently owned by institutional investors and hedge funds.
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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.
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