Short Interest in Coterra Energy Inc. (NYSE:CTRA) Declines By 7.7%

Coterra Energy Inc. (NYSE:CTRA) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 13,600,000 shares, a decline of 7.7% from the August 15th total of 14,740,000 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 5,840,000 shares, the days-to-cover ratio is presently 2.3 days.

Coterra Energy Trading Up 1.5 %

NYSE CTRA traded up $0.34 on Wednesday, hitting $23.35. 2,582,928 shares of the stock were exchanged, compared to its average volume of 6,298,541. The company’s 50-day moving average price is $24.63 and its two-hundred day moving average price is $26.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.89. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Research analysts predict that Coterra Energy will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.60%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is presently 48.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Bank of America reiterated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Truist Financial dropped their price target on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Susquehanna decreased their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, UBS Group cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday. Two research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.59.

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC grew its holdings in Coterra Energy by 154.9% in the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after purchasing an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Coterra Energy during the 1st quarter worth about $44,000. Harbor Investment Advisory LLC grew its position in Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Coterra Energy in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.