Investors Buy Large Volume of Call Options on Coterra Energy (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) was the recipient of unusually large options trading on Thursday. Investors bought 40,967 call options on the company. This represents an increase of approximately 266% compared to the average volume of 11,183 call options.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC acquired a new position in Coterra Energy in the 2nd quarter valued at about $26,000. REAP Financial Group LLC boosted its stake in shares of Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after purchasing an additional 726 shares during the period. GoalVest Advisory LLC acquired a new position in shares of Coterra Energy in the fourth quarter valued at approximately $28,000. Winnow Wealth LLC purchased a new stake in Coterra Energy during the 3rd quarter worth approximately $29,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Coterra Energy during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CTRA shares. BMO Capital Markets reduced their price target on Coterra Energy from $33.00 to $32.00 and set a “market perform” rating on the stock in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 29th. Zacks Research upgraded shares of Coterra Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 1st. Raymond James Financial raised their price target on shares of Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Sixteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Coterra Energy Trading Up 1.4%

Shares of Coterra Energy stock traded up $0.36 on Thursday, reaching $25.72. The company had a trading volume of 40,119,088 shares, compared to its average volume of 6,889,211. The firm’s 50 day moving average price is $26.08 and its two-hundred day moving average price is $24.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.02. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $29.95. The firm has a market cap of $19.58 billion, a PE ratio of 11.85, a PEG ratio of 0.44 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. Sell-side analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.4%. Coterra Energy’s payout ratio is presently 40.55%.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.