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

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Coterra Energy Trading Up 0.1 %

CTRA traded up $0.04 during midday trading on Tuesday, hitting $29.40. The company's stock had a trading volume of 7,221,210 shares, compared to its average volume of 5,873,363. 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 firm has a market cap of $22.47 billion, a P/E ratio of 17.71, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy Inc. has a 52-week low of $22.30 and a 52-week high of $29.95. The firm has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $25.89.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $0.22 per share. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.99%. Coterra Energy's payout ratio is presently 58.28%.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CTRA shares. Jefferies Financial Group lifted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. UBS Group increased their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group increased their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Three investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.30.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CTRA. City State Bank purchased a new stake in shares of Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc increased its position in shares of Coterra Energy by 192.2% in 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 during the last quarter. MCF Advisors LLC grew its position in shares of Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after acquiring an additional 869 shares in the last quarter. R Squared Ltd acquired a new position in Coterra Energy in the fourth quarter worth $32,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Coterra Energy in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

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.