Coterra Energy Inc. (NYSE:CTRA) Short Interest Up 18.4% in January

Coterra Energy Inc. (NYSE:CTRA) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 20,540,000 shares, an increase of 18.4% from the December 31st total of 17,350,000 shares. Based on an average daily volume of 5,900,000 shares, the short-interest ratio is currently 3.5 days. Currently, 2.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

CTRA has been the subject of several research analyst reports. Barclays increased their target price on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler raised their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup upped their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley upped their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Two 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.41.

Coterra Energy Stock Performance

Shares of CTRA traded down $0.71 during midday trading on Friday, hitting $27.69. 5,594,186 shares of the stock traded hands, compared to its average volume of 6,284,569. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The business’s 50 day moving average price is $26.54 and its two-hundred day moving average price is $25.13. The firm has a market capitalization of $20.39 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.58 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. Equities research analysts predict that Coterra Energy will post 1.54 EPS for the current fiscal year.

Insider Activity at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. City State Bank acquired a new stake in shares of Coterra Energy in the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc raised its holdings in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd bought a new position in Coterra Energy during the 4th quarter valued at $32,000. Finally, Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the 3rd quarter valued at $57,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.