Coterra Energy Inc. (NYSE:CTRA) Short Interest Update

Coterra Energy Inc. (NYSE:CTRA) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 17,240,000 shares, an increase of 7.4% from the March 15th total of 16,050,000 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average daily volume of 7,130,000 shares, the days-to-cover ratio is presently 2.4 days.

Insider Transactions at Coterra Energy

In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC acquired a new stake in Coterra Energy in the fourth quarter valued at approximately $25,000. SouthState Corp lifted its holdings in shares of Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the period. Quarry LP lifted its holdings in shares of Coterra Energy by 157.4% during the fourth quarter. Quarry LP now owns 1,063 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy during the fourth quarter worth $33,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after purchasing an additional 740 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of NYSE CTRA traded up $0.03 during trading hours on Wednesday, hitting $27.22. 5,464,905 shares of the stock were exchanged, compared to its average volume of 6,945,826. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market cap of $20.47 billion, a PE ratio of 12.80 and a beta of 0.21. The company’s fifty day simple moving average is $26.47 and its two-hundred day simple moving average is $26.36. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. On average, sell-side analysts predict that Coterra Energy will post 1.92 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is currently 39.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CTRA shares. Stifel Nicolaus dropped their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Scotiabank upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler upped their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Barclays initiated coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Finally, UBS Group increased their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

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.