Coterra Energy Inc. (NYSE:CTRA) Short Interest Up 11.4% in November

by · The Cerbat Gem

Coterra Energy Inc. (NYSE:CTRA – Get Free Report) saw a significant 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 daily volume of 6,020,000 shares, the short-interest ratio is currently 2.7 days. Approximately 2.3% of the company’s stock are sold short.

Coterra Energy Price Performance

Coterra Energy stock traded up $0.07 during midday trading on Tuesday, reaching $26.16. 4,326,131 shares of the company were exchanged, compared to its average volume of 5,751,681. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.70 and a beta of 0.27. The firm’s 50-day simple moving average is $24.75 and its 200-day simple moving average is $25.35. Coterra Energy has a 1 year low of $22.30 and a 1 year 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.

Coterra Energy (NYSE:CTRA – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, analysts anticipate that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.21%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler increased their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Mizuho increased their price target on Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley increased their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Citigroup increased their price objective on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.47.

Read Our Latest Research Report on Coterra Energy

Insider Buying and Selling at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the 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 completion of the sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC grew its position in shares of Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares in the last quarter. Larson Financial Group LLC grew its stake in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after buying an additional 557 shares during the last quarter. Values First Advisors Inc. bought a new stake in Coterra Energy during the third quarter valued at $57,000. Finally, Family Firm Inc. acquired a new stake in shares of Coterra Energy during the second quarter worth $68,000. 87.92% of the stock is owned by institutional investors and hedge funds.

About Coterra Energy

(Get Free Report)

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.

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