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

Coterra Energy (NYSE:CTRA) had its price target raised by analysts at Scotiabank from $31.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential downside of 1.34% from the stock’s current price.

Several other equities research analysts have also recently commented on CTRA. Morgan Stanley boosted their price target on shares of Coterra Energy from $28.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. Mizuho raised their price objective on shares of Coterra Energy from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Susquehanna lifted their price objective on shares of Coterra Energy from $34.00 to $40.00 and gave the stock a “positive” rating in a research note on Tuesday. Capital One Financial increased their target price on shares of Coterra Energy from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. Finally, Roth Mkm raised their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.13.

Coterra Energy Price Performance

Shares of CTRA traded up $0.59 during midday trading on Wednesday, reaching $32.44. The stock had a trading volume of 1,883,280 shares, compared to its average volume of 10,688,978. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The company has a market capitalization of $24.63 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.47 and a beta of 0.29. The firm’s 50 day moving average price is $32.48 and its 200-day moving average price is $28.22. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $36.88.

Institutional Trading of Coterra Energy

Hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. increased its stake in Coterra Energy by 2.6% in the 4th quarter. Panagora Asset Management Inc. now owns 13,747 shares of the company’s stock valued at $362,000 after buying an additional 347 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of Coterra Energy by 1.4% during the 4th quarter. Johnson Financial Group Inc. now owns 25,158 shares of the company’s stock valued at $662,000 after buying an additional 349 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of Coterra Energy by 13.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company’s stock valued at $85,000 after acquiring an additional 371 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after acquiring an additional 398 shares in the last quarter. Finally, KLCM Advisors Inc. increased its stake in shares of Coterra Energy by 4.2% in the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after acquiring an additional 400 shares during the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.