Clark Capital Management Group Inc. Increases Stock Holdings in Coterra Energy Inc. $CTRA

Clark Capital Management Group Inc. increased its position in Coterra Energy Inc. (NYSE:CTRA) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,102,570 shares of the company’s stock after acquiring an additional 25,737 shares during the quarter. Clark Capital Management Group Inc. owned about 0.14% of Coterra Energy worth $26,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC grew its position in shares of Coterra Energy by 15.0% during the 2nd quarter. AE Wealth Management LLC now owns 9,861 shares of the company’s stock valued at $250,000 after purchasing an additional 1,285 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Coterra Energy by 91.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,308 shares of the company’s stock worth $1,658,000 after buying an additional 31,136 shares in the last quarter. Allworth Financial LP boosted its stake in Coterra Energy by 42.2% during the second quarter. Allworth Financial LP now owns 26,587 shares of the company’s stock valued at $675,000 after buying an additional 7,888 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Coterra Energy by 8.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 114,059 shares of the company’s stock worth $2,895,000 after buying an additional 8,442 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Coterra Energy by 11.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 187,194 shares of the company’s stock worth $4,751,000 after buying an additional 18,779 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of several recent analyst reports. Susquehanna raised their price target on Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. cut their price objective on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Weiss Ratings upgraded shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Siebert Williams Shank downgraded shares of Coterra Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, BMO Capital Markets lifted their target price on shares of Coterra Energy from $32.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, March 3rd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $34.29.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $32.18 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19. Coterra Energy Inc. has a fifty-two week low of $22.33 and a fifty-two week high of $32.67. The stock has a 50 day moving average price of $29.01 and a two-hundred day moving average price of $26.37. The company has a market capitalization of $24.43 billion, a P/E ratio of 14.11, a PEG ratio of 0.80 and a beta of 0.37.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s dividend payout ratio is currently 38.60%.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.