We’re raising our Coterra Energy price target after a solid quarter, slight outlook tweak

Environment

In this photo illustration, a Coterra Energy Inc. logo is seen on a smartphone screen.
Pavlo Gonchar | SOPA Images | LightRocket | Getty Images

Coterra Energy shares dropped 3% on Tuesday despite the oil and natural gas producer delivering better-than-expected fourth-quarter earnings late Monday. Capital efficiency was a highlight with output levels above management’s outlook range and capital expenditures near the low end of guidance.

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