Coterra Energy (NYSE:CTRA) Reaches New 52-Week High Following Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA)’s share price reached a new 52-week high 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 changing hands. The stock had previously closed at $30.56.

Other analysts have also issued reports about the stock. Mizuho upped their price target 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. Piper Sandler decreased their price target on Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Stephens increased their price objective on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. TD Cowen lowered their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Susquehanna raised their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.48.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently made changes to their positions in CTRA. Fideuram Asset Management Ireland dac purchased a new position in Coterra Energy during the fourth quarter valued at $27,000. Bogart Wealth LLC bought a new position in shares of Coterra Energy in the 2nd quarter worth about $26,000. GoalVest Advisory LLC bought a new position in shares of Coterra Energy in the 4th quarter worth about $28,000. Winnow Wealth LLC purchased a new position in Coterra Energy during the 3rd quarter valued at about $29,000. Finally, City Holding Co. boosted its stake in Coterra Energy by 144.4% during the fourth quarter. City Holding Co. now owns 1,222 shares of the company’s stock worth $32,000 after acquiring an additional 722 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

The firm has a market cap of $23.74 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. 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 firm’s 50 day moving average is $26.80 and its 200 day moving average is $25.21.

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.