Insider Selling: Coterra Energy Inc. (NYSE:CTRA) SVP Sells $748,572.97 in Stock

Coterra Energy Inc. (NYSE:CTRA) SVP Kevin William Smith sold 25,733 shares of the 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 sale, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $28.73 on Monday. The company has a market capitalization of $21.95 billion, a PE ratio of 17.31, a PEG ratio of 0.59 and a beta of 0.26. 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’s fifty day simple moving average is $27.94 and its 200 day simple moving average is $25.85.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Analysts Set New Price Targets

CTRA has been the topic of several research reports. Mizuho upped their price objective on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Jefferies Financial Group upped their price objective on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Barclays upped their price objective on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.30.

Institutional Trading of Coterra Energy

Several hedge funds have recently added to or reduced their stakes in CTRA. City State Bank bought a new position in Coterra Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc increased its holdings in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares in the last quarter. MCF Advisors LLC increased its holdings in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd bought a new position in Coterra Energy during the 4th quarter worth about $32,000. Finally, Plato Investment Management Ltd bought a new position in Coterra Energy during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.