Coterra Energy (NYSE:CTRA) Trading Up 2% – Here’s What Happened

Coterra Energy Inc. (NYSE:CTRA)’s share price traded up 2% on Monday . The company traded as high as $25.18 and last traded at $25.14. 1,001,314 shares were traded during trading, a decline of 84% from the average session volume of 6,202,486 shares. The stock had previously closed at $24.64.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of research reports. Piper Sandler decreased their target price on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Barclays increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Truist Financial boosted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and an average target price of $32.53.

Coterra Energy Trading Up 4.4 %

The firm has a market cap of $18.95 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.64 and a beta of 0.27. The stock has a 50 day simple moving average of $25.00 and a 200-day simple moving average of $24.96. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.26%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CTRA. Larson Financial Group LLC increased its stake in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the 3rd quarter worth approximately $57,000. Tobam bought a new position in shares of Coterra Energy during the third quarter valued at approximately $63,000. Capital Performance Advisors LLP purchased a new position in Coterra Energy during the third quarter valued at approximately $67,000. Finally, nVerses Capital LLC lifted its holdings in Coterra Energy by 460.0% during the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $75,000 after buying an additional 2,300 shares during the period. Institutional investors own 87.92% of the company’s stock.

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.