Coterra Energy (NYSE:CTRA) Sets New 12-Month High on Analyst Upgrade

Shares of Coterra Energy Inc. (NYSE:CTRA) reached a new 52-week high during trading on Wednesday after Raymond James Financial raised their price target on the stock from $31.00 to $34.00. Raymond James Financial currently has an outperform rating on the stock. Coterra Energy traded as high as $31.41 and last traded at $31.1370, with a volume of 932085 shares trading hands. The stock had previously closed at $30.56.

Several other research analysts have also issued reports on CTRA. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. UBS Group upped their price target on Coterra Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. William Blair assumed coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price objective for the company. Johnson Rice lowered their target price on shares of Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. State Street Corp lifted its stake in Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after buying an additional 386,526 shares in the last quarter. Davis Selected Advisers grew its holdings in shares of Coterra Energy by 63.6% in the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock valued at $856,387,000 after acquiring an additional 12,654,027 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Coterra Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock valued at $510,410,000 after acquiring an additional 534,132 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

The stock’s 50-day simple moving average is $26.89 and its 200-day simple moving average is $25.26. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38.

Coterra Energy Company Profile

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.