Coterra Energy (NYSE:CTRA) Stock Rating Lowered by Texas Capital

Coterra Energy (NYSE:CTRA) was downgraded by stock analysts at Texas Capital from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on CTRA. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Johnson Rice dropped their target price on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. 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 target price for the company. Finally, Siebert Williams Shank lowered Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Coterra Energy Price Performance

NYSE:CTRA opened at $30.41 on Monday. The firm has a market cap of $23.09 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $32.67. The company’s 50-day moving average price is $28.68 and its two-hundred day moving average price is $26.21. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CTRA. Fideuram Asset Management Ireland dac bought a new position in Coterra Energy during the 4th quarter worth approximately $27,000. GoalVest Advisory LLC bought a new stake in shares of Coterra Energy in the 4th quarter valued at $28,000. Winnow Wealth LLC acquired a new stake in shares of Coterra Energy during the third quarter worth $29,000. City Holding Co. raised its stake in Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company’s stock worth $32,000 after buying an additional 722 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Coterra Energy during the third quarter worth $29,000. 87.92% of the stock is owned by institutional investors and hedge funds.

About Coterra Energy

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.