Coterra Energy (NYSE:CTRA) Upgraded by Johnson Rice to Accumulate Rating

Coterra Energy (NYSE:CTRA) was upgraded by Johnson Rice from a “hold” rating to an “accumulate” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $37.00 price objective on the stock, up from their prior price objective of $34.00. Johnson Rice’s target price would suggest a potential upside of 37.73% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group raised their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Truist Financial lifted their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. UBS Group lifted their target price on shares of Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.95.

Coterra Energy Price Performance

CTRA opened at $26.87 on Wednesday. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.59 and a beta of 0.26. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $27.68 and a 200-day moving average price of $25.62. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently modified their holdings of the company. City State Bank purchased a new position in shares of Coterra Energy in the fourth quarter worth $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC raised its stake in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd purchased a new stake in Coterra Energy during the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd purchased a new stake in Coterra Energy during the fourth quarter valued at $43,000. 87.92% of the stock is currently owned by institutional investors.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.