Raymond James Financial Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Key Points

• Raymond James raised its price target on Coterra from $34 to $41, implying roughly a 30% upside from the current share price.
• Analyst opinions are mixed but tilt positive overall: 15 Buys, 7 Holds and 1 Sell, with a consensus target of $34 and an average rating of "Moderate Buy."
• CTRA trades near $31.53 with a market cap of $23.94 billion, a PE of 13.8, a 52-week range of $22.33–$32.67, and about 88% institutional ownership.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price target hoisted by equities researchers at Raymond James Financial from $34.00 to $41.00 in a research note issued to investors on Monday,MarketScreener reports. Raymond James Financial's target price indicates a potential upside of 30.03% from the company's current price.

Several other analysts also recently weighed in on the stock. TD Cowen cut their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Scotiabank restated a "sector perform" rating and issued a $31.00 target price on shares of Coterra Energy in a research report on Tuesday, February 3rd. Zacks Research lowered shares of Coterra Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, January 19th. Piper Sandler lifted their price target on Coterra Energy from $36.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Jefferies Financial Group increased their price objective on Coterra Energy from $26.00 to $28.00 in a report on Monday. Fifteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Coterra Energy Stock Performance

Shares of CTRA traded up $0.50 during midday trading on Monday, hitting $31.53. 1,535,591 shares of the stock traded hands, compared to its average volume of 10,773,235. The business's 50 day moving average price is $28.51 and its two-hundred day moving average price is $26.11. The firm has a market capitalization of $23.94 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $32.67.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac acquired a new position in shares of Coterra Energy during the 4th quarter valued at $27,000. GoalVest Advisory LLC acquired a new stake in shares of Coterra Energy in the fourth quarter valued at $28,000. Winnow Wealth LLC bought a new position in Coterra Energy during the third quarter valued at about $29,000. Atlantic Union Bankshares Corp bought a new position in Coterra Energy during the third quarter valued at about $29,000. Finally, Triumph Capital Management acquired a new position in Coterra Energy during the third quarter worth about $31,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.