Coterra Energy (NYSE:CTRA) Rating Increased to Accumulate at Johnson Rice

Coterra Energy (NYSE:CTRA) was upgraded by stock analysts at Johnson Rice from a “hold” rating to an “accumulate” rating in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a $37.00 target price on the stock, up from their previous target price of $34.00. Johnson Rice’s price objective would indicate a potential upside of 38.61% from the stock’s current price.

A number of other research firms have also weighed in on CTRA. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Susquehanna boosted their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. Raymond James boosted their price objective on Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Mizuho boosted their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.10.

Coterra Energy Stock Performance

NYSE CTRA opened at $26.69 on Wednesday. The stock’s fifty day moving average is $27.72 and its two-hundred day moving average is $25.64. The firm has a market capitalization of $20.40 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Insider Buying and Selling

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently bought and sold shares of the stock. City State Bank purchased a new stake in Coterra Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc increased its holdings in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the period. MCF Advisors LLC increased its holdings in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new position in shares of Coterra Energy in the 4th quarter valued at about $32,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Coterra Energy in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.