Coterra Energy (NYSE:CTRA) Reaches New 1-Year High Following Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA) reached a new 52-week high during trading on Wednesday after Raymond James Financial raised their price target on the stock from $31.00 to $34.00. Raymond James Financial currently has an outperform rating on the stock. Coterra Energy traded as high as $31.41 and last traded at $31.1370, with a volume of 932085 shares. The stock had previously closed at $30.56.

Several other brokerages also recently commented on CTRA. Mizuho increased their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Roth Mkm set a $28.00 price target on shares of Coterra Energy and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Barclays decreased their price objective on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. Finally, UBS Group increased their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.48.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Bruce G. Allen Investments LLC grew its holdings in shares of Coterra Energy by 13.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company’s stock worth $85,000 after acquiring an additional 371 shares during the period. Advisors Asset Management Inc. boosted its position in Coterra Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after purchasing an additional 398 shares during the last quarter. KLCM Advisors Inc. boosted its position in Coterra Energy by 4.2% in the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after purchasing an additional 400 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Coterra Energy by 26.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,998 shares of the company’s stock valued at $53,000 after purchasing an additional 413 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in shares of Coterra Energy by 2.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock valued at $363,000 after purchasing an additional 415 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Up 2.0%

The company’s 50 day moving average price is $26.80 and its two-hundred day moving average price is $25.21. 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 stock has a market cap of $23.74 billion, a P/E ratio of 14.40, a PEG ratio of 0.73 and a beta of 0.38.

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.