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

Coterra Energy Inc. (NYSE:CTRA) was the target of unusually large options trading activity on Thursday. Traders bought 40,967 call options on the stock. This represents an increase of approximately 266% compared to the typical volume of 11,183 call options.

Coterra Energy Stock Up 1.4%

CTRA stock traded up $0.36 during trading on Thursday, hitting $25.72. 40,119,088 shares of the company’s stock were exchanged, compared to its average volume of 6,889,211. The business has a 50-day moving average price of $26.08 and a two-hundred day moving average price of $24.75. 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 stock has a market capitalization of $19.58 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.44 and a beta of 0.36. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $29.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. As a group, equities research analysts expect that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 40.55%.

Analyst Ratings Changes

CTRA has been the topic of several recent research reports. Raymond James Financial upped their price target on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. The Goldman Sachs Group cut their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Susquehanna decreased their price target on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. JPMorgan Chase & Co. lowered their price target on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday. Finally, Siebert Williams Shank dropped their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Hedge Funds Weigh In On Coterra Energy

Large investors have recently bought and sold shares of the stock. Bogart Wealth LLC purchased a new position in shares of Coterra Energy during the second quarter worth about $26,000. GoalVest Advisory LLC acquired a new stake in shares of Coterra Energy in the 4th quarter valued at about $28,000. REAP Financial Group LLC boosted its position in shares of Coterra Energy by 190.1% in the 2nd quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after purchasing an additional 726 shares during the period. Winnow Wealth LLC purchased a new position in Coterra Energy during the 3rd quarter worth approximately $29,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Coterra Energy during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.