Jefferies Financial Group Increases Coterra Energy (NYSE:CTRA) Price Target to $28.00

Key Points

• Jefferies raised its price target on Coterra to $28.00 from $26.00, a level that implies about an 11.2% downside from the stock's previous close.
• Consensus among other analysts is more bullish, with an average target of $34.00 and 15 Buy, 7 Hold and 1 Sell ratings, giving the stock an overall "Moderate Buy" view.
• CTRA traded at $31.53 (market cap ~$23.94B, P/E 13.83) and is heavily institutionally held—about 87.92% ownership—with large recent additions from firms like Davis Selected Advisers and Vanguard.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target hoisted by equities researchers at Jefferies Financial Group from $26.00 to $28.00 in a note issued to investors on Monday,MarketScreener reports. Jefferies Financial Group's price target would indicate a potential downside of 11.20% from the stock's previous close.

A number of other equities analysts have also weighed in on CTRA. Zacks Research lowered Coterra Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, January 19th. Stephens upped their target price on Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, January 12th. BMO Capital Markets lifted their price target on Coterra Energy from $32.00 to $35.00 and gave the company a "market perform" rating in a research report on Tuesday, March 3rd. Finally, Wolfe Research boosted their price target on Coterra Energy from $33.00 to $40.00 in a 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $34.00.

Coterra Energy Stock Performance

Shares of Coterra Energy stock traded up $0.50 during trading on Monday, hitting $31.53. 1,535,591 shares of the company's stock were exchanged, compared to its average volume of 10,773,235. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.77 and a beta of 0.38. The business has a 50-day simple moving average of $28.51 and a 200-day simple moving average of $26.11. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $32.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Davis Selected Advisers boosted its position in Coterra Energy by 63.6% during the fourth quarter. Davis Selected Advisers now owns 32,537,508 shares of the company's stock worth $856,387,000 after purchasing an additional 12,654,027 shares in the last quarter. Kimmeridge Energy Management Company LLC purchased a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $165,364,000. Vanguard Group Inc. increased its position in shares of Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock valued at $2,341,151,000 after buying an additional 3,781,606 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Coterra Energy by 287.7% during the 3rd quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company's stock worth $108,154,000 after buying an additional 3,393,697 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in shares of Coterra Energy during the 4th quarter worth approximately $62,360,000. Hedge funds and other 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.

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