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

Coterra Energy Inc. (NYSE:CTRA) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 613,065 call options on the company. This is an increase of approximately 13,624% compared to the typical daily volume of 4,467 call options.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after buying an additional 3,781,606 shares during the period. Wellington Management Group LLP increased its position in shares of Coterra Energy by 15.3% during the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. State Street Corp grew its holdings in Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Coterra Energy by 5.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock valued at $680,197,000 after buying an additional 1,495,553 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Coterra Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock worth $510,410,000 after buying an additional 534,132 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on CTRA shares. Raymond James Financial decreased their price target on shares of Coterra Energy from $34.00 to $28.00 in a research note on Tuesday, October 28th. Morgan Stanley reduced their price target on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Stephens lowered their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

Coterra Energy Price Performance

NYSE:CTRA traded down $0.65 during trading hours on Wednesday, reaching $26.14. The company had a trading volume of 9,816,727 shares, compared to its average volume of 7,570,107. The stock has a 50-day moving average of $24.00 and a two-hundred day moving average of $24.46. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy has a one year low of $22.33 and a one year high of $29.95. The firm has a market capitalization of $19.90 billion, a PE ratio of 12.51, a PEG ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The business had revenue of $558.00 million for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $0.32 EPS. Coterra Energy’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts forecast that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, November 13th. Coterra Energy’s dividend payout ratio is 40.55%.

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.