Piper Sandler Issues Positive Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Key Points

• Piper Sandler raised its target price on Coterra from $36 to $41 and kept an "overweight" rating, implying roughly a 30.9% upside from the current share price.
• Analyst consensus shows 16 Buys, 6 Holds and 1 Sell with an average target of $33.95, giving Coterra a MarketBeat rating of "Moderate Buy."
• Shares traded at $31.33 (up ~2.6% on the day); the company has a market cap of $23.79B, a P/E of 13.74, and roughly 87.92% institutional ownership.

Coterra Energy (NYSE:CTRA - Get Free Report) had its target price upped by investment analysts at Piper Sandler from $36.00 to $41.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective would suggest a potential upside of 30.86% from the stock's current price.

A number of other brokerages have also recently commented on CTRA. Weiss Ratings upgraded shares of Coterra Energy from a "hold (c+)" rating to a "buy (b)" rating in a report on Monday. Roth Mkm set a $28.00 target price on shares of Coterra Energy and gave the company a "neutral" rating in a research note on Tuesday, February 3rd. Raymond James Financial upped their price target on Coterra Energy from $31.00 to $34.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $34.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, January 12th. Finally, Siebert Williams Shank increased their target price on Coterra Energy from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and an average target price of $33.95.

Coterra Energy Trading Up 2.6%

Shares of CTRA traded up $0.78 during trading hours on Thursday, reaching $31.33. 2,660,723 shares of the company traded hands, compared to its average volume of 10,961,937. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $32.67. The company has a quick ratio of 0.98, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The company's fifty day moving average price is $28.29 and its two-hundred day moving average price is $25.97. The company has a market capitalization of $23.79 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38.

Institutional Trading of Coterra Energy

Hedge funds have recently bought and sold shares of the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $27,000. GoalVest Advisory LLC acquired a new position in Coterra Energy during the 4th quarter worth $28,000. Winnow Wealth LLC purchased a new stake in Coterra Energy during the 3rd quarter worth about $29,000. Atlantic Union Bankshares Corp acquired a new stake in Coterra Energy in the 3rd quarter valued at about $29,000. Finally, Triumph Capital Management acquired a new stake in Coterra Energy in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

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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