Short Interest in Coterra Energy Inc. (NYSE:CTRA) Increases By 11.4%

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

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CTRA. Wellington Management Group LLP boosted its position in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after buying an additional 15,736,247 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Coterra Energy by 187.2% during the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after buying an additional 2,954,675 shares during the last quarter. Bank of Montreal Can grew its position in shares of Coterra Energy by 160.1% during the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock worth $80,154,000 after buying an additional 1,784,192 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Coterra Energy in the third quarter worth $28,380,000. Finally, Marshall Wace LLP raised its holdings in Coterra Energy by 5,325.5% in the second quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after acquiring an additional 1,127,399 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

Shares of Coterra Energy stock traded down $0.61 during trading on Monday, reaching $26.11. The company’s stock had a trading volume of 2,223,986 shares, compared to its average volume of 6,213,016. The business has a 50 day moving average price of $24.71 and a 200-day moving average price of $25.37. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90. 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. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CTRA shares. Susquehanna boosted their target price on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Citigroup increased their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Scotiabank dropped their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coterra Energy presently 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.