Coterra Energy (NYSE:CTRA) Upgraded by Zacks Research to Hold Rating

Coterra Energy (NYSE:CTRA) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on CTRA. William Blair began coverage on Coterra Energy in a report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target on the stock. Texas Capital lowered Coterra Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Stephens lifted their target price on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. 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. Finally, Scotiabank reissued a “sector perform” rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, February 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.76.

Coterra Energy Trading Up 1.4%

Coterra Energy stock opened at $33.46 on Tuesday. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $33.49. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.82 and a beta of 0.38. The firm has a 50-day moving average price of $29.46 and a two-hundred day moving average price of $26.54.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently added to or reduced their stakes in CTRA. Davis Selected Advisers boosted its stake in Coterra Energy by 63.6% during the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock valued at $856,387,000 after purchasing an additional 12,654,027 shares in the last quarter. Kimmeridge Energy Management Company LLC bought a new stake in shares of Coterra Energy in the 4th quarter worth $165,364,000. Vanguard Group Inc. raised its stake in shares of Coterra Energy by 4.0% in 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 in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Coterra Energy by 287.7% in the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock valued at $108,154,000 after buying an additional 3,393,697 shares during the period. Finally, Yaupon Capital Management LP acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $62,360,000. 87.92% of the stock is currently 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.