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

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

Analyst Upgrades and Downgrades

CTRA has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Piper Sandler dropped their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Morgan Stanley decreased their price target on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Bank of America restated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.59.

Coterra Energy Stock Up 1.5 %

NYSE CTRA traded up $0.34 during trading on Wednesday, hitting $23.35. The stock had a trading volume of 2,582,928 shares, compared to its average volume of 6,298,541. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. 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 market capitalization of $17.38 billion, a PE ratio of 13.39, a P/E/G ratio of 1.16 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that Coterra Energy will post 1.95 EPS for the current year.

Coterra Energy Dividend Announcement

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

Institutional Trading of Coterra Energy

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after acquiring an additional 407,244 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Coterra Energy by 8.7% in the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after purchasing an additional 628,132 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after buying an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after buying an additional 51,249 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.

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.