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

Clark Capital Management Group Inc. grew its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 47.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,615,794 shares of the company's stock after buying an additional 519,670 shares during the quarter. Clark Capital Management Group Inc. owned about 0.22% of Coterra Energy worth $41,267,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. City State Bank purchased a new stake in Coterra Energy in the 4th quarter worth about $26,000. AdvisorNet Financial Inc grew its holdings in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC lifted its position in shares of Coterra Energy by 230.5% during the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company's stock worth $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd bought a new stake in shares of Coterra Energy during the fourth quarter worth $32,000. Finally, Plato Investment Management Ltd acquired a new position in Coterra Energy during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of CTRA stock traded down $0.03 during trading on Wednesday, reaching $24.73. 3,470,431 shares of the company's stock traded hands, compared to its average volume of 6,352,965. The firm's 50-day moving average is $26.26 and its 200 day moving average is $26.39. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $18.88 billion, a P/E ratio of 14.90, a PEG ratio of 0.59 and a beta of 0.33. Coterra Energy Inc. has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $924.00 million for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The firm's revenue was up 32.9% on a year-over-year basis. Equities research analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

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 paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.56%. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

Insider Activity

In other news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

CTRA has been the subject of a number of research reports. The Goldman Sachs Group increased their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Raymond James reduced their price target on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Scotiabank lowered their price objective on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, Williams Trading set a $37.00 price target on shares of Coterra Energy in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of "Moderate Buy" and an average target price of $33.50.

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.