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

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

Coterra Energy Stock Performance

CTRA traded up $0.08 on Tuesday, hitting $25.60. 2,189,923 shares of the company traded hands, compared to its average volume of 6,208,750. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a 50 day moving average of $25.04 and a 200-day moving average of $24.95. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.86 billion, a PE ratio of 15.42, a PEG ratio of 1.64 and a beta of 0.27.

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

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CTRA shares. Barclays raised their target price 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. Piper Sandler reduced their price target on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Susquehanna lifted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Citigroup upped their target price on Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley boosted their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Two 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.53.

Insider Transactions at Coterra Energy

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

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its stake in shares of Coterra Energy by 40.0% during the 3rd 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 during the last quarter. Synovus Financial Corp raised its stake in Coterra Energy by 16.0% during 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 holdings in shares of Coterra Energy by 19.9% in 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 during the last quarter. Blankinship & Foster LLC purchased a new position in shares of Coterra Energy in the 3rd quarter worth $1,420,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Coterra Energy during the third quarter worth about $621,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.