Coterra Energy (NYSE:CTRA) Rating Increased to Hold at Zacks Research

Coterra Energy (NYSE:CTRA) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

CTRA has been the topic of several other reports. Raymond James Financial upped their price target on shares of Coterra Energy from $34.00 to $41.00 in a report on Monday, March 9th. Jefferies Financial Group raised their price objective on shares of Coterra Energy from $26.00 to $28.00 in a report on Monday, March 9th. Roth Mkm set a $28.00 target price on shares of Coterra Energy and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Wolfe Research upped their target price on shares of Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Finally, Texas Capital cut shares of Coterra Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.76.

Coterra Energy Price Performance

CTRA stock opened at $33.46 on Tuesday. The stock’s 50 day moving average is $29.46 and its two-hundred day moving average is $26.54. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $33.49. The company has a market capitalization of $25.41 billion, a PE ratio of 14.68, a P/E/G ratio of 0.82 and a beta of 0.38. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. QRG Capital Management Inc. boosted its position in Coterra Energy by 67.0% during 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 increased its position in Coterra Energy by 60.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company’s stock worth $6,472,000 after buying an additional 103,381 shares during the period. Summit Global Investments acquired a new stake in Coterra Energy in the third quarter worth $1,086,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Coterra Energy by 36.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company’s stock valued at $19,639,000 after buying an additional 220,688 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

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.