Coterra Energy (NYSE:CTRA) Hits New 1-Year High – Time to Buy?

Coterra Energy Inc. (NYSE:CTRA)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.81 and last traded at $30.8550, with a volume of 314333 shares traded. The stock had previously closed at $31.37.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research reports. BMO Capital Markets cut their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, December 15th. Siebert Williams Shank increased their target price on Coterra Energy from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, January 26th. Susquehanna boosted their price target on Coterra Energy from $32.00 to $34.00 and gave the stock a “positive” rating in a report on Tuesday, February 3rd. Johnson Rice reduced their price objective on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Finally, Mizuho boosted their target price on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.48.

Coterra Energy Trading Up 2.8%

The business has a 50 day simple moving average of $27.30 and a 200-day simple moving average of $25.50. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $24.64 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after acquiring an additional 3,781,606 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Coterra Energy by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock worth $2,018,659,000 after purchasing an additional 2,051,217 shares during the period. State Street Corp lifted its stake in shares of Coterra Energy by 0.9% in the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares in the last quarter. Davis Selected Advisers grew its holdings in shares of Coterra Energy by 63.6% during the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock worth $856,387,000 after purchasing an additional 12,654,027 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company’s stock worth $729,509,000 after purchasing an additional 561,010 shares in the last quarter. Institutional investors and hedge funds 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.