Coterra Energy (NYSE:CTRA) Sets New 1-Year High – Should You Buy?
by Tristan Rich · The Markets DailyCoterra Energy Inc. (NYSE:CTRA – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $31.81 and last traded at $30.8550, with a volume of 314333 shares. The stock had previously closed at $31.37.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CTRA shares. Mizuho raised their price target on Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. TD Cowen cut their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. BMO Capital Markets lowered their price objective on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a research note on Monday, December 15th. Raymond James Financial lifted their price objective on Coterra Energy from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, Susquehanna upped their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a research note on Tuesday, February 3rd. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.48.
Read Our Latest Research Report on Coterra Energy
Coterra Energy Stock Performance
The firm has a market cap of $23.39 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.78 and a beta of 0.38. The business has a 50 day simple moving average of $27.13 and a two-hundred day simple moving average of $25.41. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CTRA. Dean Investment Associates LLC boosted its position in shares of Coterra Energy by 2.2% during the 4th quarter. Dean Investment Associates LLC now owns 143,535 shares of the company’s stock worth $3,778,000 after acquiring an additional 3,145 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Coterra Energy by 11.1% in the fourth quarter. Advisory Services Network LLC now owns 10,796 shares of the company’s stock worth $284,000 after acquiring an additional 1,080 shares during the last quarter. Kimmeridge Energy Management Company LLC acquired a new position in Coterra Energy in the fourth quarter valued at $165,364,000. &PARTNERS increased its position in Coterra Energy by 37.6% during the fourth quarter. &PARTNERS now owns 109,842 shares of the company’s stock worth $2,891,000 after purchasing an additional 30,033 shares during the last quarter. Finally, Siemens Fonds Invest GmbH grew its position in Coterra Energy by 157.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 12,041 shares of the company’s stock valued at $320,000 after acquiring an additional 7,362 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.
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.