Investors Purchase High Volume of Put Options on Coterra Energy (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) was the target of some unusual options trading activity on Friday. Investors acquired 10,072 put options on the company. This is an increase of approximately 158% compared to the average daily volume of 3,900 put options.

Institutional Trading of Coterra Energy

Large investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC raised its position in shares of Coterra Energy by 2.3% during the 1st quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock valued at $529,000 after buying an additional 429 shares in the last quarter. Stone House Investment Management LLC boosted its stake in shares of Coterra Energy by 32.4% during the 4th quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares during the period. Quent Capital LLC grew its stake in shares of Coterra Energy by 8.1% during the first quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after buying an additional 445 shares during the last quarter. Financial Advisors Network Inc. grew its position in Coterra Energy by 3.6% in the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock valued at $372,000 after acquiring an additional 501 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in Coterra Energy by 1.9% in the 3rd quarter. Trust Co. of Vermont now owns 26,314 shares of the company’s stock worth $712,000 after buying an additional 503 shares during the period. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CTRA shares. Barclays started coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target on the stock. Piper Sandler increased their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Bank of America reissued a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a research report on Friday, June 14th. Truist Financial raised Coterra Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $27.00 to $35.00 in a research report on Thursday, May 16th. Finally, Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $33.93.

Coterra Energy Stock Performance

NYSE CTRA traded down $0.51 on Friday, reaching $26.38. 1,331,135 shares of the stock were exchanged, compared to its average volume of 6,539,637. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Coterra Energy has a one year low of $23.73 and a one year high of $29.89. The company’s 50-day simple moving average is $27.53 and its two-hundred day simple moving average is $26.61. The firm has a market capitalization of $19.63 billion, a PE ratio of 15.54, a PEG ratio of 1.25 and a beta of 0.24.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. Analysts expect that Coterra Energy will post 2 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.21 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. Coterra Energy’s dividend payout ratio is currently 48.55%.

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.