Coterra Energy Inc. (NYSE:CTRA) SVP Kevin William Smith Sells 25,733 Shares

Coterra Energy Inc. (NYSE:CTRA) SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Coterra Energy Trading Down 1.0 %

Shares of NYSE:CTRA traded down $0.28 during midday trading on Friday, hitting $28.73. The company had a trading volume of 20,651,024 shares, compared to its average volume of 5,901,905. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26. The firm has a fifty day simple moving average of $27.92 and a 200 day simple moving average of $25.79.

Coterra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.22 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler raised their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Truist Financial increased their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Williams Trading set a $37.00 target price on Coterra Energy in a report on Wednesday, March 5th. Finally, Barclays increased their target price on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company’s stock worth $93,520,000 after acquiring an additional 3,599,042 shares in the last quarter. Holocene Advisors LP lifted its holdings in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock worth $108,572,000 after acquiring an additional 2,954,675 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Coterra Energy by 117.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company’s stock worth $123,036,000 after acquiring an additional 2,600,801 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Coterra Energy during the fourth quarter worth about $61,461,000. 87.92% of the stock is currently owned by institutional investors.

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.