Market Analysts see Coterra Energy Inc. [CTRA] gaining to $26. Time to buy?

Coterra Energy Inc. [NYSE: CTRA] price surged by 1.16 percent to reach at $0.33. The company report on September 19, 2022 that Coterra Energy Inc. Issues Notices of Redemption for its 4.375% Senior Notes Due 2024 and Cimarex Energy Co.’s 4.375% Senior Notes Due 2024.


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Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today announced that it has issued notices of redemption (the “Notices”) with respect to its 4.375% Senior Notes due 2024 (the “Coterra 2024 Notes”) and the 4.375% Senior Notes due 2024 (the “Cimarex 2024 Notes” and, together with the Coterra 2024 Notes, the “Notes”) of Cimarex Energy Co., the Company’s subsidiary. The Company (i) gave holders of the Coterra 2024 Notes notice that, on September 29, 2022 (the “Coterra Notes Redemption Date”), the Company will redeem $705,495,000 aggregate principal amount of the outstanding Coterra 2024 Notes, representing all of the outstanding Coterra 2024 Notes, and (ii) gave holders of the Cimarex 2024 Notes notice that, on October 19, 2022 (the “Cimarex Notes Redemption Date” and, together with the Coterra Notes Redemption Date, each a “Redemption Date”), the Company will redeem $44,497,000 aggregate principal amount of the Cimarex 2024 Notes, representing all of the outstanding Cimarex 2024 Notes (the redemptions described in (i) and (ii), the “Redemptions”). The redemption price for each series of Notes will be equal to the greater of (i) 100% of the principal amount thereof and (ii) the “make-whole” redemption premium specified in the respective indenture governing such series of Notes, plus, in either case, accrued and unpaid interest to the respective Redemption Date for each series of Notes.

This press release is for informational purposes only and shall not constitute a notice of redemption with respect to the Notes. Additional information concerning the terms of the Redemptions are fully described in the respective Notices distributed to the holders of the Notes. Beneficial holders of the Notes with any questions about the Redemptions should contact their respective brokerage firm or financial institution.

A sum of 6873562 shares traded at recent session while its average daily volume was at 7.43M shares. Coterra Energy Inc. shares reached a high of $28.915 and dropped to a low of $27.82 until finishing in the latest session at $28.80.

The one-year CTRA stock forecast points to a potential upside of 21.29. The average equity rating for CTRA stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Coterra Energy Inc. [CTRA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTRA shares is $36.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTRA stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

MKM Partners have made an estimate for Coterra Energy Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 20, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $40 to $27. The new note on the price target was released on June 24, 2022, representing the official price target for Coterra Energy Inc. stock. Previously, the target price had yet another raise from $26 to $32, while Susquehanna kept a Neutral rating on CTRA stock. On March 10, 2022, analysts increased their price target for CTRA shares from 25 to 26.

The Average True Range (ATR) for Coterra Energy Inc. is set at 1.22, with the Price to Sales ratio for CTRA stock in the period of the last 12 months amounting to 3.27. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 1.35. Price to Free Cash Flow for CTRA in the course of the last twelve months was 40.07 with Quick ratio for the last quarter at 1.80.

CTRA Stock Performance Analysis:

Coterra Energy Inc. [CTRA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.77. With this latest performance, CTRA shares dropped by -6.16% in over the last four-week period, additionally plugging by 4.47% over the last 6 months – not to mention a rise of 45.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTRA stock in for the last two-week period is set at 52.31, with the RSI for the last a single of trading hit 55.52, and the three-weeks RSI is set at 50.77 for Coterra Energy Inc. [CTRA]. The present Moving Average for the last 50 days of trading for this stock 29.02, while it was recorded at 28.82 for the last single week of trading, and 27.30 for the last 200 days.

Insight into Coterra Energy Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Coterra Energy Inc. [CTRA] shares currently have an operating margin of +51.58 and a Gross Margin at +56.05. Coterra Energy Inc.’s Net Margin is presently recorded at +31.55.

Return on Equity for this stock inclined to 16.54, with Return on Assets sitting at 9.32.

Coterra Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

CTRA Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTRA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Coterra Energy Inc. go to 9.61%.

Coterra Energy Inc. [CTRA] Insider Position Details

There are presently around $21,475 million, or 98.50% of CTRA stock, in the hands of institutional investors. The top three institutional holders of CTRA stocks are: VANGUARD GROUP INC with ownership of 89,967,143, which is approximately -1.867% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 63,856,256 shares of the stock with an approximate value of $1.84 billion in CTRA stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.84 billion in CTRA stock with ownership of nearly -24.089% of the company’s market capitalization.

Positions in Coterra Energy Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 413 institutional holders increased their position in Coterra Energy Inc. [NYSE:CTRA] by around 75,673,860 shares. Additionally, 341 investors decreased positions by around 80,693,832 shares, while 95 investors held positions by with 589,278,346 shares. The mentioned changes placed institutional holdings at 745,646,038 shares, according to the latest SEC report filing. CTRA stock had 122 new institutional investments in for a total of 7,048,004 shares, while 69 institutional investors sold positions of 2,769,547 shares during the same period.

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