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Adam M. Vela, Senior Vice President and General Counsel at Coterra Energy Inc. (NYSE:CTRA), recently sold 8,000 shares of the company’s common stock. The shares were sold at an average price of $28.765 each, amounting to a total transaction value of $230,120. Following this transaction, Vela holds 101,008 shares directly. The sale comes as CTRA trades near its 52-week high of $29.95, with the stock showing impressive momentum, delivering a 23% return over the past six months. According to InvestingPro analysis, CTRA appears slightly undervalued at current levels. Coterra Energy is a prominent player in the crude petroleum and natural gas industry, headquartered in Houston, Texas. The company boasts a market capitalization of $22 billion and has maintained dividend payments for 36 consecutive years, currently offering a 3.1% yield. InvestingPro subscribers have access to 8 additional key insights about CTRA’s financial health and growth prospects, along with comprehensive analysis in the Pro Research Report.
In other recent news, Coterra Energy reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an adjusted earnings per share (EPS) of $0.49 against a forecast of $0.43. Revenue for the quarter aligned with projections at $1.4 billion. The company also announced a 13% year-over-year increase in oil production and a 16% reduction in capital costs. Despite these positive financial results, analysts from Raymond (NSE:RYMD) James revised Coterra Energy’s price target to $37 from $41, although they maintained an Outperform rating, citing a decline in oil prices as a factor. Meanwhile, JPMorgan increased its price target for Coterra Energy to $36, up from $35, while keeping an Overweight rating, acknowledging the company’s substantial oil and gas volume that exceeded expectations. UBS also maintained a Buy rating on Coterra Energy, with a price target of $37, highlighting the company’s strong operational performance and strategic positioning in the energy market. Additionally, Coterra Energy announced an increase in its base quarterly dividend by 5%, now at $0.22 per share, reflecting a 3.3% annualized yield. The company is strategically reallocating capital to its Marcellus development program, aiming to capitalize on favorable macroeconomic conditions in the natural gas sector.
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