Coterra Energy (NYSE:CTRA) Stock Rating Upgraded by Johnson Rice

Coterra Energy (NYSE:CTRA - Get Free Report) was upgraded by equities researchers at Johnson Rice from a "hold" rating to an "accumulate" rating in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $37.00 target price on the stock, up from their previous target price of $34.00. Johnson Rice's target price suggests a potential upside of 37.73% from the company's current price.

CTRA has been the subject of a number of other research reports. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a report on Wednesday, March 5th. Piper Sandler upped their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. Truist Financial upped their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Barclays upped their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and an average target price of $33.95.

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Coterra Energy Stock Performance

Shares of CTRA stock opened at $26.87 on Wednesday. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a 50-day simple moving average of $27.68 and a 200 day simple moving average of $25.62. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95.

Institutional Trading of Coterra Energy

Several institutional investors and hedge funds have recently made changes to their positions in CTRA. Assetmark Inc. raised its holdings in shares of Coterra Energy by 11.7% in the third quarter. Assetmark Inc. now owns 93,849 shares of the company's stock valued at $2,248,000 after purchasing an additional 9,840 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Coterra Energy by 4.2% in the third quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company's stock valued at $426,000 after purchasing an additional 724 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Coterra Energy by 2.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company's stock valued at $39,538,000 after purchasing an additional 40,569 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Coterra Energy during the third quarter worth about $376,000. Finally, MQS Management LLC purchased a new stake in Coterra Energy during the third quarter worth about $776,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

About Coterra Energy

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.

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