Coterra Energy Inc. (NYSE:CTRA) Sees Large Decline in Short Interest

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 26,810,000 shares, a decrease of 5.2% from the August 15th total of 28,270,000 shares. Approximately 3.6% of the company's stock are sold short. Based on an average daily volume of 6,220,000 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CTRA shares. Stephens restated an "overweight" rating and set a $32.00 price target on shares of Coterra Energy in a research note on Tuesday, August 8th. Stifel Nicolaus raised their target price on shares of Coterra Energy from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, August 18th. Truist Financial lowered their target price on shares of Coterra Energy from $29.00 to $26.00 and set a "hold" rating on the stock in a research note on Monday, July 24th. Piper Sandler upgraded shares of Coterra Energy from a "neutral" rating to an "overweight" rating and raised their target price for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Finally, UBS Group raised their target price on shares of Coterra Energy from $25.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, August 17th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.00.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meitav Investment House Ltd. bought a new position in shares of Coterra Energy during the 2nd quarter worth about $213,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Coterra Energy during the 4th quarter worth about $25,000. ICA Group Wealth Management LLC bought a new position in shares of Coterra Energy during the 4th quarter worth about $25,000. Bogart Wealth LLC bought a new position in Coterra Energy during the 1st quarter valued at about $26,000. Finally, Stone House Investment Management LLC bought a new position in Coterra Energy during the 1st quarter valued at about $27,000. 90.54% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

NYSE CTRA opened at $27.90 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.67. The firm has a market capitalization of $21.07 billion, a price-to-earnings ratio of 6.99, a P/E/G ratio of 0.23 and a beta of 0.29. The company's fifty day moving average is $27.56 and its two-hundred day moving average is $25.74. Coterra Energy has a 52-week low of $22.25 and a 52-week high of $31.76.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its quarterly earnings data on Monday, August 7th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 40.12% and a return on equity of 23.06%. Equities research analysts forecast that Coterra Energy will post 2.25 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, August 16th. Coterra Energy's payout ratio is 20.05%.

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 primarily focuses on the Marcellus Shale with approximately 183,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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