UBS Group Raises Coterra Energy (NYSE:CTRA) Price Target to $38.00

Coterra Energy (NYSE:CTRA) had its price objective lifted by equities researchers at UBS Group from $33.00 to $38.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 22.70% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Scotiabank reaffirmed a “sector perform” rating and set a $31.00 price objective on shares of Coterra Energy in a research report on Tuesday, February 3rd. 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. Stephens lifted their price objective on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Susquehanna upped their target price 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. Finally, BMO Capital Markets lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.70.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded up $0.42 during trading hours on Thursday, hitting $30.97. 288,638 shares of the company’s stock were exchanged, compared to its average volume of 10,902,953. The stock has a market capitalization of $23.51 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.77 and a beta of 0.38. The company’s 50-day moving average price is $28.29 and its 200-day moving average price is $25.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 0.98. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $32.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group acquired a new position in Coterra Energy in the 4th quarter worth $293,000. Oak Grove Capital LLC increased its position 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 worth $9,725,000 after purchasing an additional 37,800 shares during the last quarter. MidFirst Bank bought a new stake in shares of Coterra Energy during the 4th quarter worth approximately $69,000. DGS Capital Management LLC acquired a new stake in shares of Coterra Energy in the 4th quarter valued at approximately $411,000. Finally, Dean Capital Management boosted its holdings in shares of Coterra Energy by 3.2% in the 4th quarter. Dean Capital Management now owns 74,168 shares of the company’s stock valued at $1,952,000 after buying an additional 2,290 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

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.