A company insider recently sold 14,000 shares of Coterra Energy Inc [CTRA]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Coterra Energy Inc shares valued at $364,840 were sold by DeShazer Michael D. on Mar 01 ’24. At $26.06 per share, DeShazer Michael D. sold 14,000 shares. The insider’s holdings dropped to 93,988 shares worth approximately $2.51 million following the completion of this transaction.

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Also, DINGES DAN O sold 68,275 shares, netting a total of over 1,858,446 in proceeds. Following the sale of shares at $27.22 each, the insider now holds 3,152,392 shares.

Before that, DINGES DAN O had sold 81,725 shares from its account. In a trade valued at $2,173,068, the Director traded Coterra Energy Inc shares for $26.59 each. Upon closing the transaction, the insider’s holdings decreased to 81,725 shares, worth approximately $85.93 million.

As published in a research note from BofA Securities on January 05, 2024, Coterra Energy Inc [CTRA] has been rated up from a Neutral to a Buy and the price target has been revised to $31. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of December 14, 2023, UBS has increased its “Neutral” rating to a “Buy” for CTRA. Earlier on December 11, 2023, Citigroup upgraded its rating. Their new recommendation was “a Buy” for CTRA stock which previously was a “a Neutral”.

Analyzing CTRA Stock Performance

During the last five days, there has been a surge of approximately 1.52%. Over the course of the year, Coterra Energy Inc shares have jumped approximately 4.55%. Shares of the company reached a 52-week high of $26.94 on 03/13/24 and a 52-week low of $23.73 on 02/14/24. A 50-day SMA is recorded $25.30, while a 200-day SMA reached $26.26. Nevertheless, trading volume fell to 6.48 million shares from 8.93 million shares the previous day.

Support And Resistance Levels for Coterra Energy Inc (CTRA)

According to the 24-hour chart, there is a support level at 26.47, which, if violated, would cause prices to drop to 26.27. In the upper region, resistance lies at 26.91. The next price resistance is at 27.15. RSI (Relative Strength Index) is 63.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.35, which suggests the price will decrease in the coming days. Percent R is at 17.22%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Coterra Energy Inc subject to short interest?

Stocks of Coterra Energy Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.73 million shares to 18.38 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 19.11 million shares. A decline of -3.97% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.6 of the overall float, the days-to-cover ratio (short ratio) decline to 2.6.

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