Wolfe Research Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price upped by research analysts at Wolfe Research from $45.00 to $46.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the stock. Wolfe Research’s price target indicates a potential upside of 32.56% from the company’s current price.

Several other research analysts also recently commented on CTRA. Zacks Research upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Weiss Ratings upgraded shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, March 2nd. BMO Capital Markets boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Tuesday, March 3rd. Siebert Williams Shank cut Coterra Energy from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, Scotiabank raised Coterra Energy to a “hold” rating in a report on Friday, March 27th. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.43.

Coterra Energy Stock Performance

NYSE CTRA opened at $34.70 on Monday. The firm has a market cap of $26.35 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.61 and a beta of 0.29. 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 50 day moving average is $31.62 and its 200-day moving average is $27.45. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $36.88.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Coterra Energy by 4.0% during the third 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. Wellington Management Group LLP lifted its holdings in Coterra Energy by 2.7% during the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock valued at $2,018,659,000 after buying an additional 2,051,217 shares in the last quarter. State Street Corp lifted its holdings in Coterra Energy by 0.9% during the 2nd 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 stake in Coterra Energy by 63.6% in the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock worth $856,387,000 after acquiring an additional 12,654,027 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Coterra Energy by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company’s stock worth $729,509,000 after buying an additional 561,010 shares during the period. 87.92% of the stock is currently owned by institutional investors.

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.