BMO Capital Markets Raises Coterra Energy (NYSE:CTRA) Price Target to $35.00

Coterra Energy (NYSE:CTRA) had its target price boosted by research analysts at BMO Capital Markets from $32.00 to $35.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 14.57% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Raymond James Financial lifted their price objective on Coterra Energy from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Siebert Williams Shank upped their price target on Coterra Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Barclays cut their price objective on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.45.

Coterra Energy Stock Performance

CTRA stock opened at $30.55 on Tuesday. The stock has a market capitalization of $23.20 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38. The company has a current ratio of 1.19, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $32.67. The stock’s 50 day simple moving average is $28.29 and its 200 day simple moving average is $25.97.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. lifted its position in shares of Coterra Energy by 2.6% in the 4th quarter. Panagora Asset Management Inc. now owns 13,747 shares of the company’s stock worth $362,000 after purchasing an additional 347 shares during the period. Johnson Financial Group Inc. grew its holdings in shares of Coterra Energy by 1.4% during the fourth 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 last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Coterra Energy by 13.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company’s stock valued at $85,000 after purchasing an additional 371 shares during the period. Advisors Asset Management Inc. increased its holdings in Coterra Energy by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after buying an additional 398 shares during the period. Finally, KLCM Advisors Inc. raised its holdings in shares of Coterra Energy by 4.2% during the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after purchasing an additional 400 shares during the last quarter. 87.92% of the stock is currently 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.