TD Cowen Cuts Coterra Energy (NYSE:CTRA) Price Target to $32.00

Coterra Energy (NYSE:CTRA) had its price objective trimmed by TD Cowen from $33.00 to $32.00 in a research note released on Tuesday morning,MarketScreener reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also issued reports on CTRA. Zacks Research lowered Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. BMO Capital Markets lowered their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th. Wolfe Research boosted their target price on Coterra Energy from $33.00 to $40.00 in a research note on Tuesday, February 3rd. Piper Sandler cut their target price on shares of Coterra Energy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Finally, Mizuho upped their price target on shares of Coterra Energy from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.48.

Coterra Energy Price Performance

Shares of CTRA opened at $30.79 on Tuesday. The firm has a market cap of $23.44 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.38. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $31.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. The business’s 50 day moving average price is $26.95 and its two-hundred day moving average price is $25.29.

Institutional Trading of Coterra Energy

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares in the last quarter. State Street Corp boosted its stake in Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after buying an additional 386,526 shares during the period. Davis Selected Advisers increased its holdings in Coterra Energy by 63.6% in the 4th quarter. Davis Selected Advisers now owns 32,537,508 shares of the company’s stock valued at $856,387,000 after purchasing an additional 12,654,027 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Coterra Energy by 5.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after buying an additional 1,495,553 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Coterra Energy by 2.5% during the 3rd quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock worth $510,410,000 after acquiring an additional 534,132 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Company Profile

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.