Coterra Energy (NYSE:CTRA) Downgraded to "Hold" Rating by Siebert Williams Shank

Key Points

• Siebert Williams Shank downgraded Coterra Energy (CTRA) from a "buy" to a "hold," per a MarketBeat report.
• Despite that downgrade, analyst coverage remains broadly favorable—15 Buys, 7 Holds and 1 Sell—yielding a consensus rating of "Moderate Buy" and an average price target of $33.95.
• CTRA opened at $31.54 (52‑week range $22.33–$32.67) with a market cap of $23.95 billion and a trailing P/E of 13.83, indicating the stock is trading near its recent highs.

Coterra Energy (NYSE:CTRA - Get Free Report) was downgraded by equities research analysts at Siebert Williams Shank from a "buy" rating to a "hold" rating in a research report issued on Friday, MarketBeat.com reports.

Other equities research analysts also recently issued reports about the stock. Stephens raised their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, January 29th. UBS Group increased their price objective on shares of Coterra Energy from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday. BMO Capital Markets boosted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock a "market perform" rating in a research note on Tuesday. Susquehanna upped their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the stock a "positive" rating in a report on Tuesday, February 3rd. Finally, Zacks Research cut Coterra Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, January 19th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.95.

Coterra Energy Trading Up 1.3%

CTRA stock opened at $31.54 on Friday. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $32.67. The company has a market capitalization of $23.95 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. The company's 50-day simple moving average is $28.40 and its 200 day simple moving average is $26.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 1.19.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its holdings in Coterra Energy by 2.6% in the fourth quarter. Panagora Asset Management Inc. now owns 13,747 shares of the company's stock worth $362,000 after acquiring an additional 347 shares in the last quarter. Johnson Financial Group Inc. increased its holdings in shares of Coterra Energy by 1.4% during the fourth quarter. Johnson Financial Group Inc. now owns 25,158 shares of the company's stock valued at $662,000 after acquiring an additional 349 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Coterra Energy by 13.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company's stock worth $85,000 after purchasing an additional 371 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Coterra Energy by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company's stock worth $1,438,000 after purchasing an additional 398 shares in the last quarter. Finally, KLCM Advisors Inc. grew its position in Coterra Energy by 4.2% in the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company's stock valued at $233,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds 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.

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