Coterra Energy (NYSE:CTRA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Coterra Energy (NYSE:CTRA) had its price target hoisted by investment analysts at Piper Sandler from $41.00 to $47.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 47.13% from the stock’s current price.

A number of other brokerages have also issued reports on CTRA. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Zacks Research cut Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Wolfe Research raised their price objective on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Jefferies Financial Group lifted their price objective on Coterra Energy from $26.00 to $28.00 in a report on Monday. Finally, Stephens upped their target price on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.29.

Coterra Energy Stock Performance

Shares of CTRA stock traded up $0.60 on Thursday, hitting $31.95. The company’s stock had a trading volume of 7,967,858 shares, compared to its average volume of 11,314,438. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. The stock’s 50 day moving average is $28.78 and its 200-day moving average is $26.24. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $32.67. The company has a market capitalization of $24.25 billion, a PE ratio of 14.01, a PEG ratio of 0.76 and a beta of 0.38.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently modified their holdings of CTRA. Panagora Asset Management Inc. lifted 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 worth $362,000 after buying an additional 347 shares during the last quarter. Johnson Financial Group Inc. raised its stake in Coterra Energy by 1.4% during the fourth quarter. Johnson Financial Group Inc. now owns 25,158 shares of the company’s stock worth $662,000 after acquiring an additional 349 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in Coterra Energy by 13.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company’s stock worth $85,000 after acquiring an additional 371 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Coterra Energy by 0.7% in the third 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 last quarter. Finally, KLCM Advisors Inc. boosted its stake in shares of Coterra Energy by 4.2% in the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after purchasing an additional 400 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.