Coterra Energy (NYSE:CTRA) Sees Strong Trading Volume – What’s Next?

Shares of Coterra Energy Inc. (NYSE:CTRA) saw unusually-high trading volume on Thursday . Approximately 30,888,781 shares traded hands during trading, an increase of 190% from the previous session’s volume of 10,639,823 shares.The stock last traded at $25.8470 and had previously closed at $25.36.

Analysts Set New Price Targets

CTRA has been the topic of several research reports. Wolfe Research reduced their price target on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Scotiabank dropped their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 9th. Stephens reduced their target price on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Piper Sandler decreased their target price on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Finally, Barclays dropped their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Sixteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.52.

Coterra Energy Price Performance

The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.58 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.41 and a beta of 0.36. The stock’s 50-day moving average is $26.09 and its two-hundred day moving average is $24.74.

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

Coterra Energy Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTRA. Nisa Investment Advisors LLC lifted its holdings in Coterra Energy by 11.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 309,147 shares of the company’s stock valued at $8,137,000 after buying an additional 31,738 shares in the last quarter. Range Financial Group LLC increased its position in shares of Coterra Energy by 13.3% during the fourth quarter. Range Financial Group LLC now owns 71,958 shares of the company’s stock worth $1,894,000 after acquiring an additional 8,471 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Coterra Energy by 13.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 370,188 shares of the company’s stock worth $9,847,000 after acquiring an additional 44,856 shares during the period. apricus wealth LLC raised its stake in shares of Coterra Energy by 4.4% during the fourth quarter. apricus wealth LLC now owns 121,905 shares of the company’s stock valued at $3,209,000 after acquiring an additional 5,185 shares in the last quarter. Finally, TrueMark Investments LLC purchased a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $466,000. 87.92% of the stock is currently owned by institutional investors.

About Coterra Energy

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.