Raymond James Cuts Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its target price reduced by equities research analysts at Raymond James from $41.00 to $37.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 35.91% from the stock’s previous close.

A number of other analysts also recently commented on the company. The Goldman Sachs Group boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays boosted their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Mizuho upped their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, Johnson Rice upgraded Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the stock from $34.00 to $37.00 in a report on Wednesday. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.29.

Coterra Energy Stock Performance

Shares of NYSE CTRA traded up $0.34 during midday trading on Wednesday, reaching $27.22. 2,013,812 shares of the company traded hands, compared to its average volume of 6,385,708. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.59 and a beta of 0.26. The stock has a 50-day moving average price of $27.68 and a 200 day moving average price of $25.62. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Institutional Trading of Coterra Energy

Hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA boosted its position in shares of Coterra Energy by 20.0% in the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after acquiring an additional 356 shares during the period. CENTRAL TRUST Co raised its stake in Coterra Energy by 1.8% during the 4th quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after purchasing an additional 389 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after purchasing an additional 413 shares during the period. Blue Trust Inc. grew its position in Coterra Energy by 5.8% in the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares during the last quarter. Finally, New York Life Investment Management LLC increased its holdings in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after purchasing an additional 421 shares during the period. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.