Coterra Energy (NYSE:CTRA) Reaches New 52-Week High Following Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA)’s share price reached a new 52-week high on Wednesday after Wolfe Research raised their price target on the stock from $33.00 to $40.00. The company traded as high as $29.86 and last traded at $29.8230, with a volume of 802250 shares traded. The stock had previously closed at $28.94.

CTRA has been the topic of several other research reports. Raymond James Financial increased their target price on Coterra Energy from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Roth Mkm upped their price objective on Coterra Energy from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Johnson Rice cut their target price on Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a report on Tuesday. Fourteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.40.

Institutional Investors Weigh In On Coterra Energy

Several large investors have recently modified their holdings of the company. Davis Selected Advisers increased its holdings in shares of Coterra Energy by 63.6% in the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock valued at $856,387,000 after acquiring an additional 12,654,027 shares during the period. Vanguard Group Inc. grew its position in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares during the last quarter. AQR Capital Management LLC grew its position in Coterra Energy by 287.7% during the 3rd quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after purchasing an additional 3,393,697 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in Coterra Energy by 308.9% in the third quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock valued at $55,883,000 after purchasing an additional 1,784,967 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Coterra Energy by 17.6% in the third quarter. Invesco Ltd. now owns 11,744,004 shares of the company’s stock valued at $277,746,000 after buying an additional 1,758,859 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Stock Down 0.5%

The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 0.73 and a beta of 0.38. The firm’s 50 day moving average price is $26.57 and its two-hundred day moving average price is $25.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm earned $0.32 EPS. The business’s revenue was up 33.7% on a year-over-year basis. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

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.