Short Interest in Coterra Energy Inc. (NYSE:CTRA) Declines By 8.3%

Coterra Energy Inc. (NYSE:CTRA) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 16,780,000 shares, a decline of 8.3% from the September 30th total of 18,290,000 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 5,690,000 shares, the short-interest ratio is currently 2.9 days.

Coterra Energy Stock Down 0.8 %

Shares of CTRA stock opened at $23.93 on Friday. The stock has a market cap of $17.69 billion, a P/E ratio of 13.83, a PEG ratio of 1.41 and a beta of 0.22. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $23.82 and its two-hundred day simple moving average is $25.74.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. Analysts predict that Coterra Energy will post 1.72 EPS for the current fiscal year.

Institutional Trading of Coterra Energy

Several hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Coterra Energy by 7.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,751 shares of the company’s stock valued at $997,000 after buying an additional 2,403 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Coterra Energy by 6.9% during the 1st quarter. SeaCrest Wealth Management LLC now owns 8,506 shares of the company’s stock valued at $237,000 after buying an additional 549 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Coterra Energy by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,692 shares of the company’s stock valued at $56,086,000 after buying an additional 10,001 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Coterra Energy during the 1st quarter valued at about $2,827,000. Finally, Kovack Advisors Inc. purchased a new stake in shares of Coterra Energy during the 1st quarter valued at about $237,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on CTRA shares. Truist Financial cut their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Barclays cut their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. UBS Group cut their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company cut their price objective on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.06.

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.