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

Coterra Energy Inc. (NYSE:CTRA) SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link.

Coterra Energy Stock Down 1.0 %

Coterra Energy stock opened at $28.73 on Friday. The firm has a market capitalization of $21.95 billion, a PE ratio of 17.31, a P/E/G ratio of 0.59 and a beta of 0.26. The company’s 50-day moving average is $27.94 and its 200-day moving average is $25.82. Coterra Energy Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.22 per share. 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. This represents a $0.88 annualized dividend and a dividend yield of 3.06%. Coterra Energy’s payout ratio is currently 58.28%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Coterra Energy by 1.9% during 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 last quarter. Charles Schwab Investment Management Inc. grew its stake in Coterra Energy by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after buying an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC grew its stake in Coterra Energy by 0.5% in 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. grew its stake in Coterra Energy by 5.0% in 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 last quarter. Finally, Invesco Ltd. grew its stake in Coterra Energy by 9.0% in the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock valued at $312,418,000 after buying an additional 1,011,166 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Barclays boosted their price objective on shares of Coterra Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, Truist Financial boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $34.14.

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.