Coterra Energy Stock Forecast 2024: What Next In CTRA Stock?

Coterra Energy Inc. has witnessed significant trading activities, with both institutional investors and company executives engaging in the buying and selling of shares. The Coterra Energy stock price has demonstrated a bullish trend in recent sessions, and analysts are optimistic about its performance in the upcoming year, suggesting a potential increase in stock value.

Coterra Energy Stock Sees Major Shifts: Institutional and Executive Trades Under the Spotlight

Cookson Peirce & Co. Inc. reduced its shareholding in Coterra Energy Inc. (NYSE: CTRA) by approximately 67.6% in the fourth quarter according to a recent filing with the Securities and Exchange Commission, the company had a fund that owned 24,987 shares of CTRA.

The fund sold 52,041 shares during the period, which was reflected in the filing. At the end of the most recent reporting period, Coterra Energy’s holdings in Cookson Peirce & Co. Inc. were valued at $638,000.

Additionally, several hedge funds have included Coterra Energy’s stock in their portfolio. ICA Group Wealth Management LLC invested $25,000 in the company’s stocks, while SouthState Corp expanded its holding by 75.4% during the third quarter. Besides, Tennessee Valley Asset Management Partners and VisionPoint Advisory Group LLC also raised their stakes in Coterra Energy. Tennessee Valley Asset Management added a stake worth $33,000, and VisionPoint Advisory Group LLC increased its stake by almost 133.3%, approximately worth $35,000.

Moreover, Two executives at Coterra Energy sold some of their company shares. Todd M. Roemer, the Chief Accounting Officer (CAO), sold 55,000 shares for about $27.06 each, totalling around $1.49 million. After selling, he still owns 176,758 shares worth nearly $4.78 million. Michael D. Deshazer, the Vice President (VP), sold 14,000 shares at $26.06 each, totalling around $364,840. He now has 93,988 shares valued at approximately $2.45 million. These sales were officially reported to the SEC, and overall, company insiders own 1.70% of Coterra energy stock.

What does Coterra Energy do?

Coterra Energy Inc. operates as a multifaceted energy enterprise, focusing on the discovery, advancement, and extraction of oil and gas reserves. Its operations span across notable regions such as the Permian Basin, Marcellus Shale, and Anadarko Basin. The company adopted the name Coterra Energy Inc. on October 1, 2021, following the consolidation of Cabot Oil & Gas Corp. and Cimarex Energy Co. Established in 1989, Coterra Energy has its corporate base in Houston Texas.

Coterra Energy Stock Dividend Increased

Recently, the firm announced its quarterly dividend paid on Thursday, March 28. The shareholders were paid with $0.21 dividend on March 14 and the ex-dividend date is scheduled for  March 13, Wednesday. Also, the current dividend is an upsurge from the previous quarterly dividend which is $0.20, indicating a $0.84 annualized dividend and a yield of 3.09%. Currently, the company’s payout ratio is 39.25%.  

Coterra Energy Stock Break above the 20 EMA Level?

Source: Tradingview

On the daily technical chart, the CTRA stock price is trading in the bullish zone above the key exponential moving averages showcasing that the price is in the buyer’s control.  Coterra Energy Stock has a market cap of 20.85 Billion with a dividend yield of 2.88% and a price-to-earnings ratio of 12.79 with a basic EPS of 2.14.

On the weekly timeframe, the Coterra energy stock price is trading above the 50 and 200 exponential moving averages indicating the overall trend is bullish. RSI is above the middle line at 58.68 showcasing the trend is bullish. If the price surpasses the upper trendline then Coterra Energy Stock will attain the level of $40  in the upcoming session.

According to TradingView, 27 analysts have predicted Coterra Energy’s maximum target stock price to be $39.00, with an average target of $32.67 and a minimum target of $27.00 for the next year.

Conclusion

Coterra Energy Inc. has experienced a mix of investment adjustments and executive share sales, reflecting active financial movements within the company. The Coterra Energy Stock technical indicators suggest a bullish trend, and analyst projections are optimistic, forecasting potential growth in the stock’s value over the next year.

Disclaimer

It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.