Coterra Energy (NYSE:CTRA) Upgraded by JPMorgan Chase & Co. to Accumulate Rating

Coterra Energy (NYSE:CTRA) was upgraded by analysts at JPMorgan Chase & Co. from a “hold” rating to an “accumulate” rating in a research note issued on Wednesday,Benzinga reports. The firm currently has a $37.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 36.63% from the company’s previous close.

Several other brokerages also recently issued reports on CTRA. The Goldman Sachs Group increased their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Citigroup upped their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Morgan Stanley lifted their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Williams Trading set a $37.00 price objective on Coterra Energy in a research report on Wednesday, March 5th. Finally, Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.48.

Coterra Energy Stock Up 0.7 %

NYSE CTRA traded up $0.20 during trading hours on Wednesday, reaching $27.08. 474,171 shares of the company’s stock were exchanged, compared to its average volume of 6,350,702. 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 capitalization of $20.69 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company’s 50-day moving average is $27.68 and its two-hundred day moving average is $25.62. Coterra Energy has a one year low of $22.30 and a one year high of $29.95.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently bought and sold shares of CTRA. City State Bank acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its holdings in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC boosted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd acquired a new position in shares of Coterra Energy in the fourth quarter valued at $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy in the fourth quarter valued at $43,000. 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.