Coterra Energy (NYSE:CTRA) Given New $32.00 Price Target at Roth Mkm

Key Points

• Roth Mkm raised its price target on Coterra Energy to $32.00 from $28.00 and kept a "neutral" rating, implying only about a 1.14% upside from the current share price.
• The stock has a consensus rating of "Moderate Buy" with a consensus price target of $36.83; analyst coverage includes 16 Buy and 10 Hold ratings, with some firms (Citigroup, UBS) issuing substantially higher targets.
• Coterra shares opened at $31.64, with a market cap of $24.03 billion and a P/E of 13.89, a 12‑month range of $22.33–$36.88, and about 87.92% institutional ownership (Vanguard ~98.99M shares).

Coterra Energy (NYSE:CTRA - Get Free Report) had its price objective increased by equities researchers at Roth Mkm from $28.00 to $32.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has a "neutral" rating on the stock. Roth Mkm's target price indicates a potential upside of 1.14% from the stock's current price.

A number of other brokerages have also recently commented on CTRA. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, January 12th. UBS Group increased their target price on shares of Coterra Energy from $33.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Citigroup lifted their target price on shares of Coterra Energy from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Jefferies Financial Group boosted their price target on shares of Coterra Energy from $28.00 to $33.00 and gave the stock a "hold" rating in a research note on Monday. Finally, Scotiabank upgraded Coterra Energy to a "hold" rating in a report on Friday, March 27th. Sixteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.83.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $31.64 on Wednesday. The stock has a market cap of $24.03 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.53 and a beta of 0.29. 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 50 day moving average of $32.38 and a 200 day moving average of $27.94. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $36.88.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. increased its position in shares of Coterra Energy by 67.0% during the third quarter. QRG Capital Management Inc. now owns 143,188 shares of the company's stock valued at $3,386,000 after buying an additional 57,461 shares during the period. Summit Global Investments bought a new stake in Coterra Energy during the 3rd quarter valued at approximately $1,086,000. Ashton Thomas Private Wealth LLC grew its holdings in shares of Coterra Energy by 60.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company's stock worth $6,472,000 after acquiring an additional 103,381 shares during the period. Vanguard Group Inc. grew its holdings in shares of Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock worth $2,341,151,000 after acquiring an additional 3,781,606 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Coterra Energy by 36.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company's stock worth $19,639,000 after acquiring an additional 220,688 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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.

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