Kevin William Smith Sells 29,643 Shares of Coterra Energy Inc. (NYSE:CTRA) Stock

Coterra Energy Inc. (NYSE:CTRA) SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % 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

CTRA stock opened at $26.16 on Wednesday. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $28.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock’s 50 day moving average price is $24.80 and its 200 day moving average price is $25.34. The firm has a market cap of $19.27 billion, a P/E ratio of 15.76, a PEG ratio of 1.70 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company posted $0.47 EPS. Coterra Energy’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.21%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial boosted their target price on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. UBS Group boosted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.47.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CTRA. Wellington Management Group LLP raised its holdings in Coterra Energy by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock valued at $1,705,480,000 after acquiring an additional 15,736,247 shares during the last quarter. Holocene Advisors LP raised its holdings in Coterra Energy by 187.2% in the 3rd quarter. Holocene Advisors LP now owns 4,533,269 shares of the company’s stock valued at $108,572,000 after acquiring an additional 2,954,675 shares during the last quarter. Bank of Montreal Can raised its holdings in Coterra Energy by 160.1% in the 2nd quarter. Bank of Montreal Can now owns 2,898,876 shares of the company’s stock valued at $80,154,000 after acquiring an additional 1,784,192 shares during the last quarter. Weiss Asset Management LP acquired a new position in Coterra Energy in the 3rd quarter valued at $28,380,000. Finally, Marshall Wace LLP raised its holdings in Coterra Energy by 5,325.5% in the 2nd quarter. Marshall Wace LLP now owns 1,148,569 shares of the company’s stock valued at $30,632,000 after acquiring an additional 1,127,399 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.