Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Wolfe Research Analyst Says

Coterra Energy (NYSE:CTRA) had its target price raised by equities researchers at Wolfe Research from $45.00 to $46.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Wolfe Research’s price target suggests a potential upside of 32.56% from the company’s previous close.

A number of other research analysts have also recently commented on CTRA. Stephens raised their price target on Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. BMO Capital Markets increased their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 3rd. Texas Capital downgraded shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Scotiabank raised Coterra Energy to a “hold” rating in a report on Friday, March 27th. Finally, Barclays lifted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.43.

Coterra Energy Stock Up 0.4%

Shares of CTRA opened at $34.70 on Monday. The firm has a market cap of $26.35 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.61 and a beta of 0.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $36.88. The firm’s 50-day simple moving average is $31.62 and its 200 day simple moving average is $27.45.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds have recently modified their holdings of the stock. Panagora Asset Management Inc. increased its position in Coterra Energy by 2.6% in the fourth quarter. Panagora Asset Management Inc. now owns 13,747 shares of the company’s stock worth $362,000 after buying an additional 347 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of Coterra Energy by 1.4% during the 4th 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 last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Coterra Energy by 13.0% during the 4th 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 last quarter. Advisors Asset Management Inc. grew its stake in shares of Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after acquiring an additional 398 shares during the period. Finally, KLCM Advisors Inc. grew its stake in shares of Coterra Energy by 4.2% during the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after acquiring an additional 400 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.