Coterra Energy (NYSE:CTRA) Issues Earnings Results, Misses Estimates By $0.10 EPS

Coterra Energy (NYSE:CTRA) issued its quarterly earnings results on Thursday. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10), Zacks reports. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.

Coterra Energy Stock Performance

NYSE CTRA traded up $0.07 during mid-day trading on Thursday, reaching $29.97. 7,096,535 shares of the stock were exchanged, compared to its average volume of 11,479,816. The company has a market capitalization of $22.82 billion, a P/E ratio of 13.81, a P/E/G ratio of 0.76 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The business’s 50 day moving average is $27.78 and its 200-day moving average is $25.74. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $32.67.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CTRA shares. Stephens raised their price objective on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. TD Cowen reduced their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Johnson Rice cut their price objective on shares of Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, Raymond James Financial boosted their target price on shares of Coterra Energy from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $33.48.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently modified their holdings of CTRA. Wellington Management Group LLP grew its position in shares of Coterra Energy by 2.7% during the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock valued at $2,018,659,000 after acquiring an additional 2,051,217 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company’s stock worth $729,509,000 after purchasing an additional 561,010 shares in the last quarter. Invesco Ltd. grew its holdings in Coterra Energy by 17.6% in the third quarter. Invesco Ltd. now owns 11,744,004 shares of the company’s stock valued at $277,746,000 after purchasing an additional 1,758,859 shares during the period. Bank of America Corp DE increased its position in shares of Coterra Energy by 12.7% in the third quarter. Bank of America Corp DE now owns 10,230,655 shares of the company’s stock valued at $241,955,000 after buying an additional 1,150,623 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Coterra Energy by 12.0% during the 4th quarter. Deutsche Bank AG now owns 5,625,099 shares of the company’s stock worth $148,053,000 after buying an additional 604,785 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.