Coterra Energy (NYSE:CTRA) Raised to “Accumulate” at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “hold” rating to an “accumulate” rating in a report released on Wednesday,Benzinga reports. The firm presently has a $37.00 price objective on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 36.63% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Piper Sandler raised their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Mizuho lifted their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Barclays upped their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. The Goldman Sachs Group increased their target price 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. Finally, Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.48.

Coterra Energy Price Performance

CTRA traded up $0.20 during midday trading 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 quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $27.68 and a two-hundred day simple moving average of $25.62. The firm 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. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in shares of Coterra Energy by 11.7% in the 3rd quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock valued at $2,248,000 after acquiring an additional 9,840 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in Coterra Energy by 4.2% in the third quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company’s stock valued at $426,000 after purchasing an additional 724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Coterra Energy by 2.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company’s stock worth $39,538,000 after purchasing an additional 40,569 shares during the period. Aigen Investment Management LP bought a new position in shares of Coterra Energy during the third quarter worth $376,000. Finally, MQS Management LLC acquired a new position in shares of Coterra Energy in the 3rd quarter valued at $776,000. Institutional investors own 87.92% of the company’s stock.

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.