Barclays Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Coterra Energy (NYSE:CTRA) had its target price raised by equities researchers at Barclays from $34.00 to $37.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 13.65% from the company’s previous close.

Several other research firms also recently weighed in on CTRA. TD Cowen lowered their price objective 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. BMO Capital Markets lifted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday, March 3rd. Raymond James Financial boosted their target price on shares of Coterra Energy from $34.00 to $41.00 in a research report on Monday, March 9th. Piper Sandler upped their target price on shares of Coterra Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Jefferies Financial Group upped their target price 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.43.

Coterra Energy Stock Up 1.3%

Shares of CTRA traded up $0.41 during trading hours on Monday, reaching $32.56. The stock had a trading volume of 2,809,054 shares, compared to its average volume of 11,355,994. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $32.71. The firm has a 50-day simple moving average of $29.01 and a 200 day simple moving average of $26.37. 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 company has a market capitalization of $24.72 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.80 and a beta of 0.37.

Institutional Trading of Coterra Energy

Hedge funds have recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac bought a new position in shares of Coterra Energy during the 4th quarter valued at approximately $27,000. GoalVest Advisory LLC bought a new stake in shares of Coterra Energy in the 4th quarter worth approximately $28,000. Winnow Wealth LLC bought a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $29,000. City Holding Co. lifted its stake in Coterra Energy by 144.4% in the fourth quarter. City Holding Co. now owns 1,222 shares of the company’s stock valued at $32,000 after purchasing an additional 722 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Coterra Energy during the third quarter valued at $29,000. Institutional investors 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.