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

Coterra Energy Inc. (NYSE:CTRA) was the target of a large increase in short interest during 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. 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 shares of the company are short sold.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Fortitude Family Office LLC grew its stake in 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 raised its holdings in Coterra Energy by 98.0% during the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Values First Advisors Inc. bought a new position in Coterra Energy during the 3rd quarter worth approximately $57,000. Tobam bought a new position in Coterra Energy during the 3rd quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Coterra Energy by 31.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after buying an additional 557 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTRA. Wells Fargo & Company raised their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Barclays raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Morgan Stanley raised their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.47.

Coterra Energy Trading Up 0.3 %

Shares of NYSE:CTRA traded up $0.07 during trading on Tuesday, hitting $26.16. 4,326,131 shares of the company’s stock were exchanged, compared to its average volume of 5,751,681. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The firm has a 50-day moving average price of $24.75 and a two-hundred day moving average price of $25.35. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm has a market cap of $19.27 billion, a P/E ratio of 15.77, a PEG ratio of 1.70 and a beta of 0.27.

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 the consensus estimate 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 net margin of 21.91% and a return on equity of 9.38%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. Equities analysts predict that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Announces Dividend

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

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.