Coterra Energy Inc. (NYSE:CTRA) Short Interest Up 18.4% in January

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 20,540,000 shares, an increase of 18.4% from the December 31st total of 17,350,000 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily volume of 5,900,000 shares, the days-to-cover ratio is currently 3.5 days.

Coterra Energy Trading Up 0.2 %

NYSE CTRA traded up $0.07 during trading hours on Wednesday, hitting $28.10. The company's stock had a trading volume of 2,757,710 shares, compared to its average volume of 6,422,535. The stock has a fifty day moving average of $26.59 and a 200 day moving average of $25.14. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. The firm has a market capitalization of $20.70 billion, a P/E ratio of 16.92, a PEG ratio of 0.56 and a beta of 0.26.

Insider Activity at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 29,643 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company's stock, valued at $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. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTRA. Metis Global Partners LLC raised its position in shares of Coterra Energy by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 33,219 shares of the company's stock valued at $848,000 after acquiring an additional 1,145 shares during the period. US Bancorp DE raised its holdings in Coterra Energy by 10.0% in the fourth quarter. US Bancorp DE now owns 1,795,091 shares of the company's stock worth $45,847,000 after purchasing an additional 162,858 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Coterra Energy by 7.4% in the 4th quarter. Fisher Asset Management LLC now owns 13,757 shares of the company's stock valued at $351,000 after buying an additional 951 shares during the period. Flputnam Investment Management Co. increased its position in shares of Coterra Energy by 292.0% in the 4th quarter. Flputnam Investment Management Co. now owns 31,074 shares of the company's stock valued at $794,000 after buying an additional 23,147 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in Coterra Energy by 20.0% during the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after buying an additional 356 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CTRA. Mizuho upped their target price on Coterra Energy from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Piper Sandler upped their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. UBS Group boosted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Stephens upped their price target on Coterra Energy from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Finally, Truist Financial raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Coterra Energy currently has an average rating of "Moderate Buy" and an average price target of $33.11.

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.