Mizuho Increases Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its target price lifted by equities research analysts at Mizuho from $36.00 to $37.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 62.92% from the stock’s current price.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Susquehanna cut their target price on shares of Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Barclays lowered their price target on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Wolfe Research started coverage on Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.24.

Coterra Energy Price Performance

CTRA stock opened at $22.71 on Friday. The firm has a 50 day moving average of $23.79 and a 200-day moving average of $25.69. The firm has a market capitalization of $16.79 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.22. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that Coterra Energy will post 1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTRA. Bank of Montreal Can lifted its stake in Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after acquiring an additional 1,784,192 shares during the period. SG Americas Securities LLC increased its position in shares of Coterra Energy by 2,609.6% during the first quarter. SG Americas Securities LLC now owns 1,541,342 shares of the company’s stock valued at $42,973,000 after buying an additional 1,484,458 shares during the period. Marshall Wace LLP raised its stake in Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock worth $30,632,000 after buying an additional 1,127,399 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in Coterra Energy in the first quarter worth about $28,967,000. Finally, American Century Companies Inc. boosted its position in Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. Institutional investors 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.