Coterra Energy Inc. (NYSE:CTRA) CAO Sells $1,488,300.00 in Stock

Coterra Energy Inc. (NYSE:CTRAGet Free Report) CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Coterra Energy Stock Down 0.4 %

Shares of NYSE:CTRA opened at $27.30 on Friday. Coterra Energy Inc. has a 52-week low of $22.66 and a 52-week high of $29.89. The stock has a market cap of $20.52 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.25 and a beta of 0.20. The business’s 50 day moving average is $25.47 and its 200 day moving average is $26.33. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRAGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Sell-side analysts predict that Coterra Energy Inc. will post 1.99 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Analyst Ratings Changes

A number of research firms recently commented on CTRA. Stifel Nicolaus decreased their target price on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday. Mizuho decreased their price objective on Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday. Susquehanna upgraded Coterra Energy from a “neutral” rating to a “positive” rating and decreased their price objective for the company from $31.00 to $30.00 in a research report on Friday, January 26th. Piper Sandler upped their price objective on Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Finally, Bank of America upgraded Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Friday, January 5th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $31.85.

Get Our Latest Research Report on Coterra Energy

Institutional Trading of Coterra Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Coterra Energy during the 1st quarter valued at $1,267,000. D.A. Davidson & CO. purchased a new position in Coterra Energy in the 1st quarter worth $305,000. Yousif Capital Management LLC purchased a new position in Coterra Energy in the 1st quarter worth $3,011,000. Raymond James Trust N.A. purchased a new position in shares of Coterra Energy during the 1st quarter valued at about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Coterra Energy during the 1st quarter valued at about $3,218,000. Institutional investors own 90.54% of the company’s stock.

About Coterra Energy

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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.

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