Coterra Energy (NYSE:CTRA) Stock Rating Lowered by Siebert Williams Shank

Coterra Energy (NYSE:CTRA) was downgraded by research analysts at Siebert Williams Shank from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

Other research analysts have also recently issued research reports about the company. TD Cowen cut their target price on Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Stephens lifted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Wolfe Research upped their target price on shares of Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Barclays dropped their price target on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.95.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $31.54 on Friday. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.76 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 1.19. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $32.67. The firm’s 50-day simple moving average is $28.40 and its 200 day simple moving average is $26.01.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group bought a new position in Coterra Energy during the fourth quarter worth about $293,000. Oak Grove Capital LLC lifted its stake in shares of Coterra Energy by 11.4% during the 4th quarter. Oak Grove Capital LLC now owns 369,500 shares of the company’s stock valued at $9,725,000 after buying an additional 37,800 shares in the last quarter. MidFirst Bank bought a new position in Coterra Energy in the 4th quarter worth approximately $69,000. DGS Capital Management LLC purchased a new position in Coterra Energy in the 4th quarter valued at approximately $411,000. Finally, Dean Capital Management raised its holdings in Coterra Energy by 3.2% during the 4th quarter. Dean Capital Management now owns 74,168 shares of the company’s stock valued at $1,952,000 after acquiring an additional 2,290 shares during the period. 87.92% of the stock is currently owned by hedge funds and other 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.