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

Coterra Energy Inc. (NYSE:CTRA – Get Rating) saw unusually large options trading on Monday. Investors purchased 12,604 call options on the company. This represents an increase of approximately 86% compared to the average volume of 6,781 call options.

Coterra Energy Trading Up 1.0 %

CTRA stock opened at $25.89 on Tuesday. The company has a market capitalization of $19.61 billion, a PE ratio of 4.94, a price-to-earnings-growth ratio of 0.18 and a beta of 0.25. Coterra Energy has a one year low of $22.25 and a one year high of $36.55. The company’s 50 day moving average price is $24.80 and its two-hundred day moving average price is $25.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.66.

Coterra Energy (NYSE:CTRA – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.15 billion. Coterra Energy had a net margin of 45.19% and a return on equity of 29.48%. As a group, analysts predict that Coterra Energy will post 2.59 earnings per share for the current fiscal year.

Coterra Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 26th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, May 25th. Coterra Energy’s payout ratio is 15.27%.

Wall Street Analyst Weigh In

CTRA has been the topic of several research reports. Truist Financial boosted their price target on Coterra Energy from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Stephens assumed coverage on Coterra Energy in a research note on Monday, April 24th. They issued an “overweight” rating and a $32.00 price objective on the stock. Piper Sandler lifted their price objective on Coterra Energy from $30.00 to $31.00 in a research note on Thursday, May 18th. UBS Group started coverage on Coterra Energy in a research note on Wednesday, April 19th. They issued a “neutral” rating and a $27.00 price target on the stock. Finally, Barclays raised their price objective on shares of Coterra Energy from $26.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, March 17th. Sixteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.25.

Insider Transactions at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 20,824 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $24.10, for a total transaction of $501,858.40. Following the completion of the sale, the vice president now owns 77,406 shares of the company’s stock, valued at approximately $1,865,484.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in shares of Coterra Energy during the 1st quarter valued at about $2,472,575,000. BlackRock Inc. boosted its stake in Coterra Energy by 4.1% in the 3rd quarter. BlackRock Inc. now owns 66,485,968 shares of the company’s stock worth $1,736,614,000 after purchasing an additional 2,629,712 shares during the period. State Street Corp purchased a new stake in Coterra Energy during the 1st quarter valued at approximately $1,493,855,000. Geode Capital Management LLC lifted its position in shares of Coterra Energy by 5.7% in the first quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock worth $454,088,000 after buying an additional 1,000,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Coterra Energy by 303.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,258,695 shares of the company’s stock worth $374,448,000 after buying an additional 11,477,201 shares in the last quarter. Institutional investors own 94.72% of the company’s stock.

Coterra Energy Company Profile

(Get Rating)

Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.