Coterra Energy (NYSE:CTRA) Given New $47.00 Price Target at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price target lifted by analysts at Piper Sandler from $41.00 to $47.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 47.13% from the stock’s current price.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. decreased their price objective on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Wolfe Research boosted their price objective on Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. Weiss Ratings raised shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research note on Monday, March 2nd. Roth Mkm set a $28.00 price target on shares of Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Mizuho boosted their price target on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average target price of $34.29.

Coterra Energy Price Performance

CTRA traded up $0.60 during trading on Thursday, hitting $31.95. The company’s stock had a trading volume of 7,967,858 shares, compared to its average volume of 11,314,438. The firm’s 50 day moving average price is $28.78 and its two-hundred day moving average price is $26.24. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $32.67.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac bought a new position in shares of Coterra Energy during the fourth quarter worth about $27,000. GoalVest Advisory LLC bought a new stake in Coterra Energy during the fourth quarter worth $28,000. Winnow Wealth LLC acquired a new position in shares of Coterra Energy during the 3rd quarter worth about $29,000. City Holding Co. raised its stake in Coterra Energy by 144.4% in the fourth quarter. City Holding Co. now owns 1,222 shares of the company’s stock valued at $32,000 after buying an additional 722 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in Coterra Energy during the 3rd quarter valued at $29,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.