Traders Purchase High Volume of Coterra Energy Call Options (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 15,767 call options on the company. This is an increase of approximately 396% compared to the typical volume of 3,178 call options.

Coterra Energy Trading Up 0.1 %

NYSE:CTRA opened at $25.54 on Thursday. The business has a 50 day simple moving average of $25.11 and a 200 day simple moving average of $24.95. The firm has a market capitalization of $18.81 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.64 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Insider Buying and Selling

In other news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Several hedge funds have recently added to or reduced their stakes in CTRA. Franklin Resources Inc. boosted its holdings in shares of Coterra Energy by 40.0% in the third quarter. Franklin Resources Inc. now owns 1,194,064 shares of the company’s stock valued at $29,147,000 after acquiring an additional 341,180 shares in the last quarter. Synovus Financial Corp lifted its position in Coterra Energy by 16.0% in the third quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock worth $379,000 after purchasing an additional 2,184 shares during the period. Tidal Investments LLC boosted its stake in Coterra Energy by 19.9% during the 3rd quarter. Tidal Investments LLC now owns 143,947 shares of the company’s stock valued at $3,448,000 after purchasing an additional 23,844 shares in the last quarter. Blankinship & Foster LLC acquired a new position in shares of Coterra Energy during the 3rd quarter valued at $1,420,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Coterra Energy in the 3rd quarter worth $621,000. Institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CTRA shares. Barclays raised their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Piper Sandler cut their price target on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. UBS Group raised their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Susquehanna upped their target price on Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Mizuho raised their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.53.

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.