Short Interest in Coterra Energy Inc. (NYSE:CTRA) Expands By 18.4%

Coterra Energy Inc. (NYSE:CTRA) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 20,540,000 shares, an increase of 18.4% from the December 15th total of 17,350,000 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average trading volume of 5,900,000 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

A number of brokerages recently commented on CTRA. Mizuho upped their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Wells Fargo & Company upped their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Stephens upped their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Morgan Stanley upped their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Truist Financial upped their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. 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. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.76.

Insider Activity

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTRA. City State Bank acquired a new position in Coterra Energy in the 4th quarter valued at $26,000. AdvisorNet Financial Inc increased its stake in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy in the 3rd quarter worth $57,000. Finally, Tobam acquired a new stake in shares of Coterra Energy in the 3rd quarter worth $63,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded down $0.32 during midday trading on Friday, reaching $29.51. 9,047,906 shares of the company’s stock traded hands, compared to its average volume of 5,264,813. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a market cap of $21.74 billion, a P/E ratio of 17.78, a PEG ratio of 0.98 and a beta of 0.27. 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 company has a fifty day simple moving average of $26.05 and a two-hundred day simple moving average of $25.00.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $0.47 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that Coterra Energy will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

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.