Coterra Energy Target of Unusually Large Options Trading (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) was the target of some unusual options trading on Tuesday. Traders acquired 15,767 call options on the stock. This is an increase of 396% compared to the average daily volume of 3,178 call options.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several recent research reports. Stephens increased their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. UBS Group raised their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company boosted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Piper Sandler lowered their price objective on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup raised their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Stock Up 0.1 %

CTRA stock opened at $25.54 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company’s 50 day simple moving average is $25.11 and its 200-day simple moving average is $24.95. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The firm has a market capitalization of $18.81 billion, a PE ratio of 15.39, a P/E/G ratio of 1.64 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.29%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Insider Activity

In related news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after purchasing an additional 2,954,675 shares during the last quarter. Bank of Montreal Can grew its position in shares of Coterra Energy by 160.1% in the second quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after purchasing an additional 1,784,192 shares during the period. Weiss Asset Management LP acquired a new position in Coterra Energy in the third quarter valued at $28,380,000. Finally, Marshall Wace LLP grew its holdings in Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after buying an additional 1,127,399 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

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.