Fintel reports that on August 14, 2023, Piper Sandler upgraded their outlook for Coterra Energy (NYSE:CTRA) from Neutral to Overweight.

Analyst Price Forecast Suggests 8.77% Upside

As of August 2, 2023, the average one-year price target for Coterra Energy is 30.51. The forecasts range from a low of 25.25 to a high of $40.95. The average price target represents an increase of 8.77% from its latest reported closing price of 28.05.

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The projected annual revenue for Coterra Energy is 8,270MM, an increase of 8.22%. The projected annual non-GAAP EPS is 4.32.

What is the Fund Sentiment?

There are 1601 funds or institutions reporting positions in Coterra Energy. This is a decrease of 46 owner(s) or 2.79% in the last quarter. Average portfolio weight of all funds dedicated to CTRA is 0.28%, a decrease of 22.05%. Total shares owned by institutions decreased in the last three months by 1.87% to 834,766K shares. The put/call ratio of CTRA is 0.43, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 66,769K shares representing 8.84% ownership of the company. In it’s prior filing, the firm reported owning 70,554K shares, representing a decrease of 5.67%. The firm decreased its portfolio allocation in CTRA by 86.86% over the last quarter.

Aristotle Capital Management holds 39,905K shares representing 5.29% ownership of the company. In it’s prior filing, the firm reported owning 40,575K shares, representing a decrease of 1.68%. The firm decreased its portfolio allocation in CTRA by 1.74% over the last quarter.

Capital World Investors holds 27,171K shares representing 3.60% ownership of the company. In it’s prior filing, the firm reported owning 32,513K shares, representing a decrease of 19.66%. The firm decreased its portfolio allocation in CTRA by 19.07% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 23,179K shares representing 3.07% ownership of the company. In it’s prior filing, the firm reported owning 22,755K shares, representing an increase of 1.83%. The firm decreased its portfolio allocation in CTRA by 6.06% over the last quarter.

XLE – The Energy Select Sector SPDR Fund holds 22,660K shares representing 3.00% ownership of the company. In it’s prior filing, the firm reported owning 22,823K shares, representing a decrease of 0.72%. The firm increased its portfolio allocation in CTRA by 6.63% over the last quarter.

Coterra Energy Background Information
(This description is provided by the company.)

Coterra is a premier, diversified energy company based in Houston, Texas. The company strives to be a leading producer, delivering returns with a commitment to sustainability leadership.

This article originally appeared on Fintel

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