Jefferies Financial Group Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Key Points

• Jefferies raised its price target on Coterra Energy (CTRA) to $33 from $28 while maintaining a "hold" rating, implying roughly a 2.11% upside from the prior close.
• Analyst consensus is a "Moderate Buy" with 16 Buy and 10 Hold ratings and an average target price of $36.65, above the current trading level.
• CTRA trades around $32.32 with a market cap of about $24.5B and a P/E of 14.15, and institutional investors own roughly 87.9% of the stock, with major funds recently increasing positions.

Coterra Energy (NYSE:CTRA - Get Free Report) had its target price increased by Jefferies Financial Group from $28.00 to $33.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a "hold" rating on the stock. Jefferies Financial Group's target price suggests a potential upside of 2.11% from the company's previous close.

Several other equities research analysts also recently issued reports on CTRA. Siebert Williams Shank downgraded Coterra Energy from a "buy" rating to a "hold" rating in a report on Friday, March 6th. Scotiabank upgraded Coterra Energy to a "hold" rating in a research note on Friday, March 27th. Roth Mkm set a $28.00 price target on shares of Coterra Energy and gave the stock a "neutral" rating in a research note on Tuesday, February 3rd. Weiss Ratings raised shares of Coterra Energy from a "hold (c+)" rating to a "buy (b)" rating in a report on Monday, March 2nd. Finally, UBS Group raised their price objective on shares of Coterra Energy from $33.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Sixteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and an average target price of $36.65.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $32.32 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The company's fifty day moving average price is $32.32 and its two-hundred day moving average price is $27.88. The firm has a market capitalization of $24.54 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.54 and a beta of 0.29. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $36.88.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in 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 buying an additional 3,781,606 shares during the last quarter. Wellington Management Group LLP lifted its stake in Coterra Energy by 2.7% in the fourth quarter. Wellington Management Group LLP now owns 76,696,789 shares of the company's stock valued at $2,018,659,000 after buying an additional 2,051,217 shares during the last quarter. Davis Selected Advisers boosted its holdings in shares of Coterra Energy by 63.6% during the fourth quarter. Davis Selected Advisers now owns 32,537,508 shares of the company's stock valued at $856,387,000 after acquiring an additional 12,654,027 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coterra Energy by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,716,896 shares of the company's stock worth $729,509,000 after acquiring an additional 561,010 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Coterra Energy by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 21,986,795 shares of the company's stock worth $578,692,000 after acquiring an additional 404,986 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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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