Coterra Energy (NYSE:CTRA) Raised to “Accumulate” at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) was upgraded by research analysts at JPMorgan Chase & Co. from a “hold” rating to an “accumulate” rating in a report released on Wednesday,Benzinga reports. The firm presently has a $37.00 price objective on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 38.61% from the stock’s current price.

CTRA has been the subject of several other research reports. Wells Fargo & Company raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays raised their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Mizuho raised their price target on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group raised their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

Coterra Energy Stock Performance

NYSE CTRA opened at $26.69 on Wednesday. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a market capitalization of $20.40 billion, a P/E ratio of 16.08, a PEG ratio of 0.59 and a beta of 0.26. The business has a 50 day moving average price of $27.72 and a 200 day moving average price of $25.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the business’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 transaction, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CTRA. Wellington Management Group LLP lifted its stake in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after purchasing an additional 3,599,042 shares in the last quarter. Holocene Advisors LP lifted its stake in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after purchasing an additional 2,954,675 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Coterra Energy by 117.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after purchasing an additional 2,600,801 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Coterra Energy during the fourth quarter worth about $61,461,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

About Coterra Energy

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.