Coterra Energy (NYSE:CTRA) Rating Increased to Strong-Buy at Roth Capital

Coterra Energy (NYSE:CTRA) was upgraded by equities researchers at Roth Capital from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports.

Other research analysts have also recently issued reports about the company. Truist Financial dropped their target price on Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wolfe Research initiated coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price for the company. Susquehanna increased their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. Piper Sandler dropped their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Mizuho upped their price objective on Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.29.

Coterra Energy Stock Up 0.0 %

Shares of Coterra Energy stock opened at $24.21 on Tuesday. Coterra Energy has a twelve month low of $23.18 and a twelve month high of $29.89. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $25.67 and its 200 day moving average is $26.66. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company 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 10.49%. Coterra Energy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Research analysts anticipate that Coterra Energy will post 2.02 EPS for the current year.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new position in Coterra Energy during the second quarter valued at $245,000. Cetera Investment Advisers grew its position in shares of Coterra Energy by 2.2% during the second quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock valued at $5,698,000 after purchasing an additional 4,555 shares in the last quarter. Graham Capital Wealth Management LLC increased its holdings in shares of Coterra Energy by 1.3% in the second quarter. Graham Capital Wealth Management LLC now owns 78,017 shares of the company’s stock worth $2,081,000 after purchasing an additional 977 shares during the last quarter. Core Alternative Capital lifted its position in shares of Coterra Energy by 13.9% in the second quarter. Core Alternative Capital now owns 82,480 shares of the company’s stock worth $2,200,000 after buying an additional 10,081 shares in the last quarter. Finally, Quarry LP bought a new position in Coterra Energy during the second quarter valued at approximately $186,000. Institutional investors own 87.92% of the company’s stock.

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. 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.