Mizuho Reiterates Outperform Rating on Coterra Energy (CTRA)

Mizuho analyst Nitin Kumar reiterated an Outperform rating and $36.00 price target on Coterra Energy (NYSE: CTRA).

The analyst commented: "The company’s 2Q25 outlook reflects its decision to keep two rigs running in the Permian (raising the 2H count from an expected 7 to 9) to capitalize on stronger oil prices, pushing our modeled capex to ~$622 million and full-year spend toward the high end of guidance ($2.0-2.3bn). About two-thirds of the ~$100 million in prior capital reductions are expected to return in 2H, while the company is still evaluating the decision to add ~$50mm to the Marcellus program. We expect ~55 new wells in 2Q, alongside ~9 in the Anadarko and ~3 in the Marcellus. The company also continues to prioritize using free cash flow to pay down its term loan and maintain the dividend over share repurchases. Maintain Outperform rating, PT $36/sh and Top Pick designation."

For an analyst ratings summary and ratings history on Coterra Energy click here. For more ratings news on Coterra Energy click here.

Shares of Coterra Energy closed at $25.10 yesterday.

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