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

Coterra Energy Inc. (NYSE:CTRA) SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Coterra Energy Trading Down 2.0 %

CTRA stock opened at $26.69 on Friday. The company has a market capitalization of $20.40 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a one year low of $22.30 and a one year high of $29.95. The company’s 50 day moving average price is $27.72 and its two-hundred day moving average price is $25.64.

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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s dividend payout ratio (DPR) is presently 58.28%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Coterra Energy by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock worth $1,852,385,000 after purchasing an additional 1,318,754 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock worth $599,356,000 after buying an additional 1,310,965 shares during the period. Geode Capital Management LLC raised its holdings in Coterra Energy by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock valued at $486,528,000 after buying an additional 96,059 shares during the last quarter. Victory Capital Management Inc. boosted its position in Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock valued at $454,834,000 after buying an additional 845,609 shares during the period. Finally, Invesco Ltd. grew its holdings in Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after acquiring an additional 1,011,166 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTRA has been the topic of a number of recent analyst reports. Mizuho increased their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial raised their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler upped their price target 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. Finally, Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, eighteen 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 stock currently has an average rating of “Moderate Buy” and an average price target of $34.10.

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.