UBS Group Forecasts Strong Price Appreciation for Coterra Energy (NYSE:CTRA) Stock

Key Points

• UBS raised its price target on Coterra Energy (CTRA) from $33.00 to $38.00 and maintained a "buy" rating, implying about a 22.7% upside from the prior close.
• The consensus is a "Moderate Buy" (16 Buys, 6 Holds, 1 Sell) with an average target of $33.70; shares recently traded near $30.97 with a market cap of ~$23.5B, a PE of 13.6 and a PEG of 0.77.
• Institutional ownership is high at roughly 87.9%, with major investors (including Vanguard and Mitsubishi UFJ Trust) increasing positions during recent quarters.

Coterra Energy (NYSE:CTRA - Get Free Report) had its price objective hoisted by stock analysts at UBS Group from $33.00 to $38.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 22.70% from the company's previous close.

Other analysts also recently issued research reports about the stock. Barclays reduced their price target on shares of Coterra Energy from $35.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, January 21st. Stephens boosted their price target on Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, January 29th. Raymond James Financial lifted their price objective on Coterra Energy from $31.00 to $34.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 11th. Zacks Research cut shares of Coterra Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, January 19th. Finally, Susquehanna lifted their price target on Coterra Energy from $32.00 to $34.00 and gave the company a "positive" rating in a report on Tuesday, February 3rd. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and an average target price of $33.70.

Coterra Energy Price Performance

Shares of CTRA traded up $0.42 on Thursday, reaching $30.97. The stock had a trading volume of 288,638 shares, compared to its average volume of 10,902,953. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $32.67. The firm has a market capitalization of $23.51 billion, a PE ratio of 13.58, a PEG ratio of 0.77 and a beta of 0.38. The firm has a 50-day moving average of $28.29 and a 200 day moving average of $25.97. The company has a quick ratio of 0.98, a current ratio of 1.19 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CTRA. QRG Capital Management Inc. boosted its position in shares of Coterra Energy by 67.0% in the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company's stock valued at $3,386,000 after purchasing an additional 57,461 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in shares of Coterra Energy by 60.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company's stock valued at $6,472,000 after buying an additional 103,381 shares in the last quarter. Summit Global Investments acquired a new position in Coterra Energy during the third quarter valued at $1,086,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in 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. Finally, Vanguard Group Inc. boosted its position 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 acquiring an additional 3,781,606 shares during the period. Institutional investors and hedge funds 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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