Raymond James Financial Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price increased by analysts at Raymond James Financial from $31.00 to $34.00 in a research report issued on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 8.85% from the stock’s current price.

Several other research firms also recently issued reports on CTRA. Piper Sandler dropped their price objective on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Roth Mkm set a $28.00 price objective on Coterra Energy and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Zacks Research lowered shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Wolfe Research increased their price target on shares of Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Finally, Barclays cut their price target on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.48.

Coterra Energy Stock Performance

Shares of CTRA opened at $31.24 on Wednesday. Coterra Energy has a one year low of $22.33 and a one year high of $30.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The company has a market capitalization of $23.78 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. The company’s fifty day moving average price is $26.80 and its 200 day moving average price is $25.21.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently modified their holdings of CTRA. QRG Capital Management Inc. raised its stake in shares of Coterra Energy by 67.0% during the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock worth $3,386,000 after buying an additional 57,461 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Coterra Energy by 60.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock valued at $6,472,000 after purchasing an additional 103,381 shares during the period. Summit Global Investments bought a new position in shares of Coterra Energy in the 3rd quarter worth $1,086,000. State of Michigan Retirement System grew its stake in shares of Coterra Energy by 5.8% during the second quarter. State of Michigan Retirement System now owns 244,459 shares of the company’s stock worth $6,204,000 after purchasing an additional 13,500 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Coterra Energy by 36.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after buying an additional 220,688 shares during the period. 87.92% of the stock is currently 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.