Piper Sandler Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its target price increased by analysts at Piper Sandler from $36.00 to $41.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 30.86% from the stock’s current price.

A number of other research firms also recently commented on CTRA. Wolfe Research increased their price objective on Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. TD Cowen cut their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Susquehanna upped their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. William Blair began coverage on shares of Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, Siebert Williams Shank lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.95.

Coterra Energy Stock Up 2.6%

Shares of Coterra Energy stock traded up $0.78 during trading on Thursday, hitting $31.33. 2,660,723 shares of the stock were exchanged, compared to its average volume of 10,961,937. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 0.98. The firm’s 50-day moving average price is $28.29 and its 200 day moving average price is $25.97. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $32.67.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently made changes to their positions in the business. Assetmark Inc. increased its position in Coterra Energy by 49.6% in the 2nd quarter. Assetmark Inc. now owns 9,993 shares of the company’s stock valued at $254,000 after acquiring an additional 3,312 shares during the period. Huntington National Bank increased its holdings in shares of Coterra Energy by 91.1% in the second quarter. Huntington National Bank now owns 6,869 shares of the company’s stock valued at $174,000 after purchasing an additional 3,275 shares during the period. Resona Asset Management Co. Ltd. raised its stake in shares of Coterra Energy by 30.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 294,598 shares of the company’s stock worth $7,486,000 after purchasing an additional 68,100 shares during the last quarter. Sound Shore Management Inc CT lifted its holdings in shares of Coterra Energy by 11.8% during the second quarter. Sound Shore Management Inc CT now owns 4,388,365 shares of the company’s stock worth $111,377,000 after purchasing an additional 464,732 shares during the period. Finally, Outfitter Financial LLC lifted its holdings in shares of Coterra Energy by 39.9% during the second quarter. Outfitter Financial LLC now owns 30,781 shares of the company’s stock worth $781,000 after purchasing an additional 8,775 shares during the period. Institutional investors and hedge funds 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.