TD Cowen Cuts Coterra Energy (NYSE:CTRA) Price Target to $32.00

Coterra Energy (NYSE:CTRA) had its target price dropped by equities researchers at TD Cowen from $33.00 to $32.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 5.40% from the company’s current price.

A number of other research firms also recently weighed in on CTRA. Barclays reduced their target price on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Scotiabank reiterated a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a research report on Tuesday, February 3rd. Stephens increased their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Raymond James Financial upped their price objective on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Finally, Roth Mkm set a $28.00 price objective on shares of Coterra Energy and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Fifteen 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Coterra Energy Price Performance

CTRA stock opened at $30.36 on Tuesday. The firm has a 50-day moving average of $26.71 and a 200 day moving average of $25.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. The company has a market cap of $23.12 billion, a P/E ratio of 13.94, a PEG ratio of 0.74 and a beta of 0.38. Coterra Energy has a 1 year low of $22.33 and a 1 year high of $30.94.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTRA. Bogart Wealth LLC acquired a new position in shares of Coterra Energy in the 2nd quarter valued at $26,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new stake in shares of Coterra Energy during the 4th quarter worth approximately $28,000. Winnow Wealth LLC acquired a new position in Coterra Energy in the third quarter valued at approximately $29,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Coterra Energy during the third quarter worth $29,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.