Scotiabank Increases Coterra Energy (NYSE:CTRA) Price Target to $32.00

Coterra Energy (NYSE:CTRA) had its target price increased by research analysts at Scotiabank from $31.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential downside of 4.94% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Susquehanna raised their price target on shares of Coterra Energy from $34.00 to $40.00 and gave the stock a “positive” rating in a report on Tuesday. Capital One Financial boosted their price objective on shares of Coterra Energy from $37.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. Siebert Williams Shank downgraded shares of Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. UBS Group boosted their price objective on shares of Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.13.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $33.66 on Wednesday. The firm has a market cap of $25.56 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $36.88. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $32.57 and its two-hundred day simple moving average is $28.29.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CTRA. Fideuram Asset Management Ireland dac purchased a new stake in shares of Coterra Energy in the 4th quarter worth about $27,000. GoalVest Advisory LLC purchased a new stake in shares of Coterra Energy in the 4th quarter worth about $28,000. Winnow Wealth LLC bought a new position in Coterra Energy in the 3rd quarter worth about $29,000. Atlantic Union Bankshares Corp bought a new position in Coterra Energy in the 3rd quarter worth about $29,000. Finally, Triumph Capital Management bought a new position in Coterra Energy in the 3rd quarter worth about $31,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.