Coterra Energy Inc. (NYSE:CTRA) SVP Michael D. Deshazer Sells 35,377 Shares

Coterra Energy Inc. (NYSE:CTRA) SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Coterra Energy Stock Up 1.3 %

CTRA stock traded up $0.36 on Wednesday, reaching $27.24. 5,876,967 shares of the company traded hands, compared to its average volume of 6,469,274. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The firm has a fifty day simple moving average of $27.68 and a 200-day simple moving average of $25.62. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company has a market cap of $20.81 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.22 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.23%. Coterra Energy’s payout ratio is presently 58.28%.

Wall Street Analysts Forecast Growth

CTRA has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Coterra Energy from a “hold” rating to an “accumulate” rating and set a $37.00 price objective for the company in a research note on Wednesday. Piper Sandler increased their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Wells Fargo & Company boosted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays increased their target price on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Morgan Stanley boosted their price target on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.29.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares in the last quarter. Czech National Bank boosted its stake in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Bourgeon Capital Management LLC increased its holdings in shares of Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Hartford Funds Management Co LLC purchased a new position in shares of Coterra Energy in the third quarter worth $575,000. Finally, M.E. Allison & CO. Inc. bought a new position in shares of Coterra Energy during the fourth quarter valued at $217,000. 87.92% of the stock is currently 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.