Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Coterra Energy Inc shares valued at $1,488,300 were sold by Roemer Todd M on Mar 20 ’24. At $27.06 per share, Roemer Todd M sold 55,000 shares. The insider’s holdings dropped to 176,758 shares worth approximately $4.78 million following the completion of this transaction.
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Also, DeShazer Michael D. sold 14,000 shares, netting a total of over 364,840 in proceeds. Following the sale of shares at $26.06 each, the insider now holds 93,988 shares.
Before that, DINGES DAN O had sold 68,275 shares from its account. In a trade valued at $1,858,446, the Director traded Coterra Energy Inc shares for $27.22 each. Upon closing the transaction, the insider’s holdings decreased to 68,275 shares, worth approximately $85.34 million.
As published in a research note from Truist on May 16, 2024, Coterra Energy Inc [CTRA] has been rated up from a Hold to a Buy and the price target has been revised to $35 from $27. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of January 05, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for CTRA. Earlier on December 14, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for CTRA stock which previously was a “an Equal weight”.
Analyzing CTRA Stock Performance
During the last five days, there has been a drop of approximately -3.36%. Over the course of the year, Coterra Energy Inc shares have jumped approximately 6.07%. Shares of the company reached a 52-week high of $28.90 on 04/04/24 and a 52-week low of $23.73 on 02/14/24. A 50-day SMA is recorded $27.77, while a 200-day SMA reached $26.83. Nevertheless, trading volume fell to 5.68 million shares from 5.92 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 26.84, which, if violated, would cause prices to drop to 26.60. In the upper region, resistance lies at 27.52. The next price resistance is at 27.96. RSI (Relative Strength Index) is 40.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 98.90%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
