Investors Buy Large Volume of Coterra Energy Call Options (NYSE:CTRA)

Key Points

• Traders purchased an unusually large volume of calls—40,426 call options were bought on Monday, about a 629% increase versus the average daily call volume, signaling heightened bullish/speculative interest in Coterra (CTRA).
• Institutional ownership is high at 87.92%, with several funds (including Vanguard, QRG, Ashton Thomas, Mitsubishi UFJ) increasing positions recently, and analysts leaning positive overall (consensus “Moderate Buy” with a $37.13 target and multiple price-target upgrades).
• Coterra shares traded at $33.73 on the day, the company has a market cap of $25.61B and a PE of 14.79, and it pays a quarterly $0.22 dividend (annualized $0.88) for a 2.6% yield

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 40,426 call options on the stock. This is an increase of approximately 629% compared to the average daily volume of 5,543 call options.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. QRG Capital Management Inc. lifted its position in shares of Coterra Energy by 67.0% in the 3rd quarter. QRG Capital Management Inc. now owns 143,188 shares of the company's stock worth $3,386,000 after buying an additional 57,461 shares during the last quarter. Summit Global Investments bought a new stake in Coterra Energy in the 3rd quarter valued at about $1,086,000. Ashton Thomas Private Wealth LLC lifted its position in Coterra Energy by 60.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 273,650 shares of the company's stock valued at $6,472,000 after purchasing an additional 103,381 shares during the last quarter. Vanguard Group Inc. lifted its position in Coterra Energy by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company's stock valued at $2,341,151,000 after purchasing an additional 3,781,606 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Coterra Energy by 36.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 830,392 shares of the company's stock valued at $19,639,000 after purchasing an additional 220,688 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several recent research reports. Siebert Williams Shank lowered shares of Coterra Energy from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. Morgan Stanley increased their price objective on shares of Coterra Energy from $28.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, March 27th. Barclays raised their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, March 16th. Zacks Research raised shares of Coterra Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Finally, Susquehanna raised their price target on shares of Coterra Energy from $34.00 to $40.00 and gave the company a "positive" rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus price target of $37.13.

Coterra Energy Stock Up 0.6%

NYSE CTRA traded up $0.20 during trading hours on Monday, reaching $33.73. 3,783,199 shares of the company traded hands, compared to its average volume of 10,545,063. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $36.88. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $25.61 billion, a PE ratio of 14.79, a PEG ratio of 0.49 and a beta of 0.29. The company has a 50 day moving average of $32.61 and a two-hundred day moving average of $28.42.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, March 11th. Coterra Energy's dividend payout ratio (DPR) is presently 38.60%.

Coterra Energy Company Profile

Coterra Energy NYSE: CTRA is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.

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