Coterra Energy Inc. (NYSE:CTRA) SVP Sells $941,735.74 in Stock

Coterra Energy Inc. (NYSE:CTRA) SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Coterra Energy Price Performance

Shares of CTRA opened at $27.66 on Friday. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95. The company has a market capitalization of $21.13 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The firm has a 50 day moving average of $27.75 and a 200 day moving average of $25.66. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.18%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Analysts Set New Price Targets

Several analysts recently weighed in on CTRA shares. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup lifted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group increased their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price objective on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. City State Bank purchased a new position in Coterra Energy in the 4th quarter worth about $26,000. AdvisorNet Financial Inc raised its holdings in shares of Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC lifted its position in Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd purchased a new stake in Coterra Energy in the fourth quarter worth approximately $32,000. Finally, Plato Investment Management Ltd bought a new stake in Coterra Energy in the 4th quarter worth approximately $43,000. 87.92% of the stock is owned by institutional investors.

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.