Coterra Energy’s (CTRA) “Sector Perform” Rating Reiterated at Scotiabank

Scotiabank reissued their sector perform rating on shares of Coterra Energy (NYSE:CTRA) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $31.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. The Goldman Sachs Group reduced their price target on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, October 15th. Morgan Stanley lowered their price target on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Siebert Williams Shank lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, UBS Group boosted their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Fourteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.40.

Coterra Energy Price Performance

CTRA opened at $30.33 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $26.57 and its 200 day simple moving average is $25.04. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.73 and a beta of 0.38. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $30.64.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently bought and sold shares of the company. Blume Capital Management Inc. raised its holdings in Coterra Energy by 5.4% in the fourth quarter. Blume Capital Management Inc. now owns 33,074 shares of the company’s stock worth $871,000 after buying an additional 1,700 shares during the last quarter. Gabelli Funds LLC raised its holdings in Coterra Energy by 43.3% in the 4th quarter. Gabelli Funds LLC now owns 202,600 shares of the company’s stock worth $5,332,000 after acquiring an additional 61,200 shares during the last quarter. North Dakota State Investment Board purchased a new position in Coterra Energy in the 4th quarter worth approximately $681,000. Northwestern Mutual Wealth Management Co. lifted its position in Coterra Energy by 1,861.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 331,974 shares of the company’s stock valued at $8,738,000 after acquiring an additional 315,050 shares in the last quarter. Finally, Isthmus Partners LLC boosted its stake in Coterra Energy by 0.6% during the 4th quarter. Isthmus Partners LLC now owns 397,854 shares of the company’s stock valued at $10,472,000 after purchasing an additional 2,392 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

About Coterra Energy

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.