Short Interest in Coterra Energy Inc. (NYSE:CTRA) Grows By 7.4%

Coterra Energy Inc. (NYSE:CTRA) was the recipient of 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 stock are sold short. Based on an average daily trading volume, of 7,130,000 shares, the short-interest ratio is currently 2.4 days.

Coterra Energy Trading Up 0.1 %

Shares of CTRA traded up $0.03 during mid-day trading on Wednesday, reaching $27.22. The stock had a trading volume of 5,463,389 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 52-week low of $22.91 and a 52-week high of $29.89. The business’s fifty day moving average is $26.47 and its 200 day moving average is $26.36. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 12.80 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last announced its 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). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations 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 fiscal year.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a yield of 3.09%. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTRA. Barclays began coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective for the company. UBS Group lifted their target price 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. Morgan Stanley lifted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday. Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a report on Friday, January 5th. Finally, Stifel Nicolaus cut their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Insider Transactions at Coterra Energy

In other news, VP Michael D. Deshazer sold 14,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value 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 approximately $4,783,071.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred 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 sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. 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 company. ICA Group Wealth Management LLC acquired a new stake in Coterra Energy in the fourth quarter valued at approximately $25,000. SouthState Corp raised its holdings in 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 in the last quarter. Quarry LP raised its holdings in 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 in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Coterra Energy during the fourth quarter worth approximately $33,000. Finally, VisionPoint Advisory Group LLC raised its holdings in 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 in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.