Coterra Energy (NYSE:CTRA) Raised to “Accumulate” at Johnson Rice

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

Several other equities research analysts also recently weighed in on the company. Williams Trading set a $37.00 price target on Coterra Energy in a report on Wednesday, March 5th. The Goldman Sachs Group lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Truist Financial lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho lifted their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Citigroup lifted their target price on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.10.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $26.69 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market cap of $20.40 billion, a PE ratio of 16.08, a P/E/G ratio of 0.59 and a beta of 0.26. The business has a 50-day simple moving average of $27.72 and a two-hundred day simple moving average of $25.64. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CTRA. Private Trust Co. NA increased its position in shares of Coterra Energy by 20.0% during the fourth quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock worth $55,000 after purchasing an additional 356 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock worth $559,000 after purchasing an additional 389 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of Coterra Energy by 3.8% during the fourth quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares in the last quarter. Blue Trust Inc. increased its position in shares of Coterra Energy by 5.8% during the fourth quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in shares of Coterra Energy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after purchasing an additional 421 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.