Clark Capital Management Group Inc. Boosts Stock Position in Coterra Energy Inc. $CTRA

Clark Capital Management Group Inc. increased its holdings in Coterra Energy Inc. (NYSE:CTRA) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,102,570 shares of the company’s stock after purchasing an additional 25,737 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Coterra Energy were worth $26,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its holdings in Coterra Energy by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after buying an additional 398 shares during the period. KLCM Advisors Inc. increased its stake in shares of Coterra Energy by 4.2% during the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after buying an additional 400 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Coterra Energy by 2.8% during the third quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock valued at $363,000 after acquiring an additional 415 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC lifted its stake in Coterra Energy by 1.0% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock worth $1,017,000 after acquiring an additional 429 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 0.6%

NYSE:CTRA opened at $32.18 on Monday. Coterra Energy Inc. has a one year low of $22.33 and a one year high of $32.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The company’s 50-day simple moving average is $29.01 and its 200 day simple moving average is $26.37. The firm 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, March 11th. Coterra Energy’s dividend payout ratio (DPR) is presently 38.60%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTRA. Susquehanna lifted their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the company a “positive” rating in a report on Tuesday, February 3rd. Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Stephens lifted their target price on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. UBS Group boosted their price target on shares of Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Piper Sandler increased their price target on shares of Coterra Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.29.

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.