Coterra Energy Inc. (NYSE:CTRA) Short Interest Up 7.4% in March

Coterra Energy Inc. (NYSE:CTRA) was the recipient of a significant increase in short interest during the month of 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. Based on an average trading volume of 7,130,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.3% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Truist Financial dropped their target price on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.20.

Insider Buying and Selling at Coterra Energy

In related news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently modified their holdings of the stock. Quent Capital LLC lifted its holdings in shares of Coterra Energy by 7.4% in the third quarter. Quent Capital LLC now owns 5,441 shares of the company’s stock worth $147,000 after buying an additional 375 shares in the last quarter. Beacon Investment Advisors LLC lifted its holdings in shares of Coterra Energy by 0.7% in the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after buying an additional 422 shares in the last quarter. Stone House Investment Management LLC lifted its holdings in shares of Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after buying an additional 438 shares in the last quarter. SouthState Corp lifted its holdings in shares of Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after buying an additional 454 shares in the last quarter. Finally, Echo Street Capital Management LLC lifted its holdings in shares of Coterra Energy by 5.5% in the fourth quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock worth $223,000 after buying an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Shares of CTRA traded up $0.03 on Wednesday, reaching $27.22. The company’s stock had a trading volume of 5,464,958 shares, compared to its average volume of 6,945,805. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. Coterra Energy has a 12-month low of $22.91 and a 12-month high of $29.89. The stock has a market capitalization of $20.47 billion, a P/E ratio of 12.80 and a beta of 0.21. The stock’s 50 day simple moving average is $26.47 and its two-hundred day simple moving average is $26.36.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Research analysts forecast that Coterra Energy will post 1.92 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 3.09%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is currently 39.25%.

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.