Susquehanna has adjusted its forecast for Coterra Energy (CTRA, Financial), reducing the price target to $32 from a previous $34, while maintaining a Positive rating on the stock. The revision comes amid declining oil price assumptions, with the firm now predicting oil to average around $68 per barrel in 2025 and $67 per barrel in the subsequent years.
Several factors have contributed to this revised outlook. Concerns about a potential recession have led to reduced global demand estimates, applying downward pressure on oil prices as the second quarter begins. Furthermore, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are set to increase oil supply by reversing 2.2 million barrels of voluntary production cuts starting in April. This move is anticipated to introduce significant additional supply into the market.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 26 analysts, the average target price for Coterra Energy Inc (CTRA, Financial) is $33.83 with a high estimate of $40.00 and a low estimate of $27.00. The average target implies an upside of 36.35% from the current price of $24.81. More detailed estimate data can be found on the Coterra Energy Inc (CTRA) Forecast page.
Based on the consensus recommendation from 26 brokerage firms, Coterra Energy Inc's (CTRA, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Coterra Energy Inc (CTRA, Financial) in one year is $34.54, suggesting a upside of 39.22% from the current price of $24.81. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Coterra Energy Inc (CTRA) Summary page.
