Barclays Raises Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its price objective upped by stock analysts at Barclays from $34.00 to $37.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 12.19% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Raymond James Financial boosted their price objective on Coterra Energy from $34.00 to $41.00 in a research report on Monday, March 9th. TD Cowen reduced their target price on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Wolfe Research boosted their price target on shares of Coterra Energy from $33.00 to $40.00 in a report on Tuesday, February 3rd. Texas Capital downgraded shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group raised their price objective on shares of Coterra Energy from $26.00 to $28.00 in a report on Monday, March 9th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.76.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $32.98 on Monday. The stock’s 50-day moving average is $29.30 and its two-hundred day moving average is $26.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $33.05. The company has a market cap of $25.04 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its holdings in shares of Coterra Energy by 67.0% during the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company’s stock valued at $3,386,000 after purchasing an additional 57,461 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Coterra Energy by 60.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after purchasing an additional 103,381 shares during the last quarter. Summit Global Investments bought a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $1,086,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in Coterra Energy by 36.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after purchasing an additional 220,688 shares during the period. Finally, Vanguard Group Inc. grew its stake 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 buying an additional 3,781,606 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.