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

Coterra Energy (NYSE:CTRA) had its target price upped by stock analysts at Citigroup from $32.00 to $42.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 16.91% from the stock’s current price.

Several other research firms have also recently weighed in on CTRA. JPMorgan Chase & Co. lowered their price objective 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 upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Siebert Williams Shank lowered Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. BMO Capital Markets raised their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 3rd. Finally, Raymond James Financial upped their target price on Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.09.

Coterra Energy Trading Down 1.1%

Shares of CTRA traded down $0.39 during midday trading on Monday, hitting $35.93. The stock had a trading volume of 4,062,852 shares, compared to its average volume of 11,646,828. Coterra Energy has a fifty-two week low of $22.33 and a fifty-two week high of $36.88. The business has a 50-day simple moving average of $30.80 and a two-hundred day simple moving average of $27.08. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm has a market cap of $27.28 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 0.90 and a beta of 0.38.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake 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% during the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock valued at $2,018,659,000 after purchasing an additional 2,051,217 shares in the last quarter. 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 during the last quarter. Davis Selected Advisers boosted its holdings in Coterra Energy by 63.6% in the fourth 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company’s stock worth $729,509,000 after buying an additional 561,010 shares during the last quarter. 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.