Coterra Energy (NYSE:CTRA) Stock Rating Upgraded by TD Cowen

Coterra Energy (NYSE:CTRA) was upgraded by TD Cowen to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on CTRA. Raymond James Financial increased their target price on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Susquehanna increased their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a research report on Tuesday, February 3rd. UBS Group lifted their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Johnson Rice decreased their target price on shares of Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Finally, Stephens raised their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $30.52 on Monday. 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 company has a market cap of $23.24 billion, a PE ratio of 14.06, a P/E/G ratio of 0.73 and a beta of 0.38. The company’s fifty day simple moving average is $26.80 and its 200-day simple moving average is $25.21. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $30.94.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc lifted its position in shares of Coterra Energy by 0.4% during the fourth quarter. TD Asset Management Inc now owns 267,810 shares of the company’s stock worth $7,049,000 after purchasing an additional 1,006 shares during the last quarter. Cibc World Market Inc. increased its holdings in Coterra Energy by 50.2% in the fourth quarter. Cibc World Market Inc. now owns 139,562 shares of the company’s stock valued at $3,673,000 after buying an additional 46,654 shares during the last quarter. CIBC Asset Management Inc raised its stake in Coterra Energy by 60.4% during the fourth quarter. CIBC Asset Management Inc now owns 194,452 shares of the company’s stock valued at $5,118,000 after buying an additional 73,223 shares in the last quarter. Marble Wealth LLC bought a new position in Coterra Energy during the 4th quarter worth approximately $834,000. Finally, Bank of New York Mellon Corp lifted its holdings in Coterra Energy by 13.0% during the 4th quarter. Bank of New York Mellon Corp now owns 7,757,725 shares of the company’s stock worth $204,183,000 after buying an additional 892,198 shares during the last quarter. 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.