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 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 transaction, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $27.24 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The stock has a market capitalization 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. The business’s 50 day simple moving average is $27.71 and its two-hundred day simple moving average is $25.63.

Coterra Energy Increases Dividend

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

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. lifted its stake in Coterra Energy by 11.7% in the third quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock worth $2,248,000 after acquiring an additional 9,840 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Coterra Energy by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after purchasing an additional 474 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of Coterra Energy by 4.2% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 17,777 shares of the company’s stock valued at $426,000 after purchasing an additional 724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coterra Energy by 2.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,650,859 shares of the company’s stock valued at $39,538,000 after purchasing an additional 40,569 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Coterra Energy during the third quarter valued at about $376,000. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. 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 research report on Wednesday, February 26th. Piper Sandler raised their price objective on shares of 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 lifted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Finally, Raymond James reduced their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday. Three investment 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 company’s stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $34.29.

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.