Coterra Energy Inc. (NYSE:CTRA) Shares Bought by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. grew its position in Coterra Energy Inc. (NYSE:CTRA) by 47.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,615,794 shares of the company’s stock after acquiring an additional 519,670 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Coterra Energy were worth $41,267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CTRA. Private Trust Co. NA increased its stake in Coterra Energy by 20.0% in the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company’s stock valued at $55,000 after buying an additional 356 shares during the period. CENTRAL TRUST Co lifted its position in Coterra Energy by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after purchasing an additional 389 shares during the period. Arkadios Wealth Advisors boosted its holdings in Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock valued at $288,000 after purchasing an additional 413 shares in the last quarter. Blue Trust Inc. increased its position in Coterra Energy by 5.8% during the 4th quarter. Blue Trust Inc. now owns 7,620 shares of the company’s stock worth $182,000 after purchasing an additional 420 shares during the period. Finally, New York Life Investment Management LLC raised its stake in shares of Coterra Energy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 99,584 shares of the company’s stock worth $2,543,000 after buying an additional 421 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CTRA shares. Bank of America decreased their target price on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and upped their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Susquehanna cut their price objective on Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays cut their price target on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.85.

Coterra Energy Trading Up 2.3 %

Coterra Energy stock opened at $23.12 on Friday. The company has a 50 day moving average price of $26.36 and a 200 day moving average price of $26.35. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.59 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $924.00 million during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. Research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.81%. Coterra Energy’s payout ratio is 51.16%.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.