Coterra Energy (NYSE:CTRA) Downgraded by Texas Capital to Hold

Coterra Energy (NYSE:CTRA) was downgraded by Texas Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on the company. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Johnson Rice cut their target price on Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Weiss Ratings upgraded Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Scotiabank reissued a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, February 3rd. Finally, Susquehanna raised their price target on Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $31.16 on Monday. The firm’s 50 day moving average is $28.61 and its two-hundred day moving average is $26.16. The firm has a market capitalization of $23.66 billion, a P/E ratio of 13.67, a PEG ratio of 0.77 and a beta of 0.37. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $32.67.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its position in shares of Coterra Energy by 2.6% during the 4th quarter. Panagora Asset Management Inc. now owns 13,747 shares of the company’s stock valued at $362,000 after purchasing an additional 347 shares during the period. Johnson Financial Group Inc. lifted its holdings in shares of Coterra Energy by 1.4% in the fourth quarter. Johnson Financial Group Inc. now owns 25,158 shares of the company’s stock valued at $662,000 after buying an additional 349 shares during the period. Bruce G. Allen Investments LLC lifted 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 valued at $85,000 after buying an additional 371 shares during the period. Advisors Asset Management Inc. boosted its stake in Coterra Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after buying an additional 398 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its stake in Coterra Energy by 4.2% during the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after buying an additional 400 shares in the last quarter. 87.92% of the stock is owned by 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.