Coterra Energy Inc. (NYSE:CTRA - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 17,240,000 shares, an increase of 7.4% from the March 15th total of 16,050,000 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,130,000 shares, the short-interest ratio is currently 2.4 days.
Insider Transactions at Coterra Energy
In other news, CAO Todd M. Roemer sold 55,000 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now directly owns 176,758 shares of the company's stock, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Michael D. Deshazer sold 14,000 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the firm's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company's stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new position in shares of Coterra Energy in the 4th quarter valued at $25,000. SouthState Corp boosted its stake in Coterra Energy by 75.4% during the 3rd quarter. SouthState Corp now owns 1,056 shares of the company's stock worth $29,000 after purchasing an additional 454 shares during the period. Quarry LP boosted its stake in Coterra Energy by 157.4% during the 4th quarter. Quarry LP now owns 1,063 shares of the company's stock worth $27,000 after purchasing an additional 650 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Coterra Energy during the 4th quarter worth $33,000. Finally, VisionPoint Advisory Group LLC boosted its stake in Coterra Energy by 133.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company's stock worth $35,000 after purchasing an additional 740 shares during the period. Institutional investors and hedge funds own 87.92% of the company's stock.
Coterra Energy Stock Up 0.1 %
Shares of CTRA stock traded up $0.02 during trading on Wednesday, reaching $27.22. The company's stock had a trading volume of 5,466,169 shares, compared to its average volume of 6,945,839. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 12.72 and a beta of 0.21. The stock's 50-day moving average price is $26.59 and its 200 day moving average price is $26.37. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89.
Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. On average, research analysts anticipate that Coterra Energy will post 1.92 EPS for the current year.
Coterra Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.21 dividend. This is a boost from Coterra Energy's previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.09%. Coterra Energy's dividend payout ratio is presently 39.25%.
Analysts Set New Price Targets
Several research firms recently issued reports on CTRA. Piper Sandler raised their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, March 7th. Morgan Stanley raised their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. Barclays initiated coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They set an "overweight" rating and a $36.00 price objective for the company. Finally, Scotiabank lifted their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the company a "sector outperform" rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of "Moderate Buy" and a consensus target price of $32.20.
Get Our Latest Stock Report on CTRA
About Coterra Energy
(
Get Free Report)
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.
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