S&P 500 rises as health care, tech gain to overshadow Fed independence concerns
HOUSTON—Michael D. DeShazer, Senior Vice President of Business Units at Coterra Energy Inc. (NYSE:CTRA), sold 35,377 shares of the company’s common stock on March 10. The shares were sold at a weighted average price of $26.625, amounting to a total transaction value of approximately $941,912.
Following this transaction, DeShazer holds 126,770 shares of Coterra Energy. The sale was executed in multiple trades, with prices ranging from $26.62 to $26.66.
Coterra Energy, headquartered in Houston, Texas, operates in the crude petroleum and natural gas sector.
In other recent news, Coterra Energy has reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an adjusted earnings per share of $0.49, against a forecast of $0.43. The company’s revenue aligned with projections, reaching $1.4 billion. In terms of production, Coterra Energy exceeded expectations, with oil production increasing by 13% year-over-year, and capital costs decreasing by 16% from the previous year. Raymond (NSE:RYMD) James adjusted its financial outlook for Coterra Energy, lowering the stock’s price target to $37.00 from $41.00 while maintaining an Outperform rating, following a notable decline in oil prices. Meanwhile, JPMorgan raised its price target for Coterra Energy to $36.00, up from $35.00, reiterating an Overweight rating, citing substantial oil and gas volume surpassing expectations. UBS maintained a Buy rating on Coterra Energy, keeping its price target at $37.00, highlighting the company’s operational efficiency and strategic positioning. Additionally, Coterra Energy has announced an increase in its quarterly dividend by 5%, reaching $0.22 per share, reflecting a 3.3% annualized yield.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.