Zacks Research Upgrades Coterra Energy (NYSE:CTRA) to “Strong-Buy”
by Teresa Graham · The Cerbat GemCoterra Energy (NYSE:CTRA – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.
A number of other analysts have also recently weighed in on the company. Weiss Ratings raised Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Barclays boosted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Siebert Williams Shank cut Coterra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Citigroup boosted their price target on Coterra Energy from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Finally, Capital One Financial boosted their price target on Coterra Energy from $37.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $36.83.
Read Our Latest Research Report on Coterra Energy
Coterra Energy Price Performance
CTRA opened at $30.05 on Wednesday. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.51 and a beta of 0.29. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $36.88. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $32.43 and a 200 day moving average price of $27.99.
Institutional Trading of Coterra Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. Wellington Management Group LLP grew its holdings in Coterra Energy by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company’s stock valued at $2,018,659,000 after buying an additional 2,051,217 shares during the last quarter. Davis Selected Advisers grew its holdings in 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 buying an additional 12,654,027 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Coterra Energy by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company’s stock valued at $729,509,000 after buying an additional 561,010 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Coterra Energy by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 21,986,795 shares of the company’s stock valued at $578,692,000 after buying an additional 404,986 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.
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.