Coterra Energy Inc. (NYSE:CTRA) Sees Significant Increase in Short Interest

Coterra Energy Inc. (NYSE:CTRA) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 16,340,000 shares, a growth of 11.4% from the October 31st total of 14,670,000 shares. Based on an average trading volume of 6,020,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 2.3% of the shares of the company are sold short.

Coterra Energy Stock Down 2.3 %

Shares of CTRA stock traded down $0.61 on Monday, reaching $26.11. 2,223,986 shares of the company’s stock traded hands, compared to its average volume of 6,213,016. The company has a market capitalization of $19.23 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.74 and a beta of 0.22. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90. 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 business’s 50 day moving average price is $24.71 and its two-hundred day moving average price is $25.37.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. On average, equities analysts forecast that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 3.22%. Coterra Energy’s dividend payout ratio is 50.60%.

Insider Activity

In other news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after buying an additional 305,626 shares during the last quarter. Geode Capital Management LLC grew its stake in Coterra Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock valued at $453,628,000 after buying an additional 128,397 shares during the last quarter. Victory Capital Management Inc. lifted its position in Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock worth $406,266,000 after acquiring an additional 195,966 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after acquiring an additional 285,774 shares during the period. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of research reports. Susquehanna raised their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Piper Sandler upped their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Stephens lifted their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Morgan Stanley raised their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Mizuho increased their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and a consensus target price of $32.47.

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.